Any car leasing experts? Need a sanity check

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markbmcfc

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Hi all,

Just need a sanity check on excess mileage charges if anyone has experience of leasing.

After a 330e leasing company wants £352.88 for 5k annual mileage over 48 months. £430.69 for 15k mileage (around what i'll use give or take a few miles)

5k: £352.88
15k: £430.69
Diff: £77.81 per month

Excess mileage charge is fixed at 14.04p per mile and doesn't increase if you go over by a certain amount.

£77.81 x 50 months (inc the initials) = £3890.50

10,000 miles at 0.1404 = £1404

To my maths it's £2,486.50 cheaper for 5k?

Am I being stupid or is my arithmetic sound? Therefore is it safe to deduce the leasing company is pocketing from the higher mileage monthlys?

Cheers!
 
markbmcfc said:
Hi all,

Just need a sanity check on excess mileage charges if anyone has experience of leasing.

After a 330e leasing company wants £352.88 for 5k annual mileage over 48 months. £430.69 for 15k mileage (around what i'll use give or take a few miles)

5k: £352.88
15k: £430.69
Diff: £77.81 per month

Excess mileage charge is fixed at 14.04p per mile and doesn't increase if you go over by a certain amount.

£77.81 x 50 months (inc the initials) = £3890.50

10,000 miles at 0.1404 = £1404

To my maths it's £2,486.50 cheaper for 5k?

Am I being stupid or is my arithmetic sound? Therefore is it safe to deduce the leasing company is pocketing from the higher mileage monthlys?

Cheers!
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May be misunderstanding but isn't it 10,000 miles and £1404 per year, so equivalent to 50 months £5850 as opposed to£3890.50
 
blueparrot said:
May be misunderstanding but isn't it 10,000 miles and £1404 per year, so equivalent to 50 months £5850 as opposed to£3890.50
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No I think you're right, the OP has compared the difference in monthly payment over 4 years with the 10000 mile excess for 1 year, need to multiply that mileage excess by 4, OP.

If you want another calculation, divide the mileage excess by 12 to get the monthly amount, 10000/12 = 833, so multiply by £0.1404 = £117 per month extra, equals £40 per month more than the 15k plan.
 
markbmcfc said:
I'll resist deleting the thread in case anyone is as stupid as me and makes the same mistake. Thanks all.
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I'm pretty good at maths but have made similar mistakes in the past. Once was defending our season ticket prices saying they were less than £20 a game then realised I'd divided by 38 (not just the 19 home games) ... d'oh!
 
dickie davies said:
Beemer is a beemer and a bloody good car
I look at older cars on the road and the 3 series, bar just one model, hasn't aged at all
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Of course, had a 320d myself not so long back. But the 2019 has a longer electric range, better interior, more torque, just better. Though, itll likely be cheaper in September when they release their 2021 car!
 
Have you done the figures on a petrol/diesel model? If you're only doing 15k a year for 3-4 years it's crazy to spend the extra on the 330e model, unless you have a very specific regular journey pattern to make the very most of the electric range.

If you had the option to buy it at the end then I could understand it as a long term car but over such a short period it doesn't make economical sense and the extra weight of the hybrid kills the handling balance if you're a keen driver. The lighter petrols have more than enough power and are a better drive in my opinion, each to their own though.
 
TheRemainsOfTheDave said:
No I think you're right, the OP has compared the difference in monthly payment over 4 years with the 10000 mile excess for 1 year, need to multiply that mileage excess by 4, OP.

If you want another calculation, divide the mileage excess by 12 to get the monthly amount, 10000/12 = 833, so multiply by £0.1404 = £117 per month extra, equals £40 per month more than the 15k plan.
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Jesus christ! Why do folk bother with this car rental nonsense? Just buy a car and its yours, and therefore what you can afford. Is it me or am I missing something or way behind the times? People must have more money than me to jizz about and Im doing ok for a salary and extras I think
 
The new 330e does have a few problems tho, the dashboards are failing at the moment on some of them and there are reports of headlights coming on after the car is switched off and left parked .
 
Uncle Wally One Ball said:
Jesus christ! Why do folk bother with this car rental nonsense? Just buy a car and its yours, and therefore what you can afford. Is it me or am I missing something or way behind the times? People must have more money than me to jizz about and Im doing ok for a salary and extras I think
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Yeah, I'd be worried I'd lose my job half way through or something.
 
Quick question.

my company lease car went back on Friday and some dude turned up, did a full assessment and picked up loads of little issues. Chipped windscreen, a couple small dents, scuffed alloys. The thing that annoyed me was he claimed one of the passenger doors was a different colour and had been re-sprayed....it definitely hadn’t.

upshot was I refused to sign his form to accept that what he was telling me wasn’t outside normal wear and tear....he then stalked off and said he’d notify Arval of my ‘dispute’.

does anyone have any experience of this?
 
DenisLawBackHeel74 said:
Quick question.

my company lease car went back on Friday and some dude turned up, did a full assessment and picked up loads of little issues. Chipped windscreen, a couple small dents, scuffed alloys. The thing that annoyed me was he claimed one of the passenger doors was a different colour and had been re-sprayed....it definitely hadn’t.

upshot was I refused to sign his form to accept that what he was telling me wasn’t outside normal wear and tear....he then stalked off and said he’d notify Arval of my ‘dispute’.

does anyone have any experience of this?
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Unfortunately so, put me off for good. Thankfully I had a video of the car before the twat arrived, who said we'd have to pay for 6 separate marks on the exterior and an alloy refurb in his report (ended up wanting £900). Refused to sign and told them to take me to court if they wanted the money as I had video proof most of the marks fitted well within the wear and tear parameters. Eventually after 8 months they backed down and accepted £130 for two marks I was happy to pay for originally. It took 6 months for them to view the video, then 2 further months for a thinly veiled apology of sorts. Never again.
 
ctid1894 said:
Unfortunately so, put me off for good. Thankfully I had a video of the car before the twat arrived, who said we'd have to pay for 6 separate marks on the exterior and an alloy refurb in his report (ended up wanting £900). Refused to sign and told them to take me to court if they wanted the money as I had video proof most of the marks fitted well within the wear and tear parameters. Eventually after 8 months they backed down and accepted £130 for two marks I was happy to pay for originally. It took 6 months for them to view the video, then 2 further months for a thinly veiled apology of sorts. Never again.
Click to expand...

ok so it sounds like I’m in for a battle. Although the company will need to deal with this as it was a company lease car.
To make matters worse he was a very nasal scouser... immediately put my back up.
 
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