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Thread started 25 Nov 2014 (Tuesday) 17:52
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BMW Leasing, etc.....

 
MDJAK
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Nov 25, 2014 17:52 |  #1

So I hope this type question is allowed. I know it's a photography forum, but the members here I consider both my friends and very knowledgeable with wide experience and I don't know where else to both air my grievance and ask this question.

So I'm the ripe old age of 57, meaning I've been around the block once or twice. I've probably owned or leased at least 20 cars if not more in my years of driving.

I'm soon to turn in my BMW X5 which is coming off lease. I leased a 335xi about 10 years ago. I am buying (not leasing) a Porsche Macan S as soon as it's delivered in January. Can't wait.

I received the end of lease package from BMW. And I'm not stupid. I don't trash cars in any way. I try very hard to not get dings, to park smartly, etc.

The car is basically pristine with the exceptions of a few scrapes on front bumper which must have occurred from someone bumping into it in a parking spot. Okay, whatever it is, I'll pay for it. No problem.

But BMW Financial services sent me a plastic disk that resembles a CD. It has an outer circle drawn on it and if the tires have less than 1/8th tread depth, I'm responsible for replacing them.

My lease called for 30k and I have 29k.

Am I an idiot? I have never heard of this in any lease. Is this the new paradigm since the financial collapse in 2008? (I haven't leased since the 2004 BMW aside from this as I prefer to buy.)

While I'm certain it's in the small print of the contract,I obviously didn't read that. And I'm not saying that's an excuse. It just seems to be ridiculous.

I put down like $4k, paid over $700 a month, and I'm not paying to use the tires too?

Holy crap. I don't know what else to say, other than I will never, ever lease another BMW, that's for damn sure.




  
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ChunkyDA
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Nov 26, 2014 17:31 |  #2

So BMW feels the need to squeeze a few more bucks out of their customers, as if they weren't profitable enough already.


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longbeachgary
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Nov 26, 2014 17:36 |  #3

If BMW is doing it you can bet that they all are doing it. I guess you're responsible for normal wear and tear?


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DiMAn0684
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Nov 26, 2014 17:51 as a reply to  @ longbeachgary's post |  #4

I'm on my first car, but I've heard of this before. I'm actually somewhat happy about this policy, without it a bunch of folks whose leases are about to end would be driving on completely bold tires to save themselves a few hundred bucks.


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MDJAK
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Nov 26, 2014 19:06 |  #5

Yeah, usually it's excessive wear and tear.

As for saving a few hundred bucks, I realize if you want to play with the big boys you gotta pay with the big boys.

But when you are talking about 19" run flat tires, your talking more like $1500 minimum. That's a lot of dough to turn in a car.

As it turns out, I used their measurement device and I'm well within acceptable tread left.




  
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Dec 10, 2014 08:03 as a reply to  @ MDJAK's post |  #6

I've leased several GMC trucks over the years that I used personally but also to tow and move customer boats. They sent me a similar materials where you can figure out what damage is billable when you turn the vehicle in. Despite minor door dings, scratches, worn tires, corroded rims (salt on the road upstate), etc, I've simply turned them in and never paid anything additional. In one case, a front wheel hub bearing wore out at 37k miles on a 39k lease and they wanted me to pay for it (36k warranty back then). I had two months to go on the lease. Told them to come get the truck and I wasn't paying the rest of the lease. They dropped the issue and repaired the hub. The mechanic in the dealership admitted that many wheel hubs were failing on relatively low mile trucks so it was a bad component.

Glad your tires are in spec and you don't have to deal with it :-)


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Codda
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Dec 10, 2014 08:42 |  #7

I've leased 4 or 5 trucks. I had a lease return on a 2005 Toyota Tundra that had a similar tire tread clause. Coincidentally the tires wore fairly quick as well .... I just turned it in as is...( The truck was absolutely mint otherwise ... and under miles. ) I actually just dropped it off without speaking to anyone. I never heard anything from them. Different manufacturers have different methods for return. Many allow drop off at a local dealership and they are held until a Rep. from the manufacturer comes out to field inspect ( several ) and they are taken away. ( My Tundra sat in the back of the lot for approx. 3 weeks before I saw it leave. )
Dealers themselves have nothing to do with the turn in. What I have done in the past is actually trade my lease in. I've always had equity in the end... and I simply trade it in regardless of my next purchase brand...it has never been an issue and in several instances I was a few thousand above residual value and used as money down. Of course I don't drop that bomb until I have received my appraisal. FWIW...




  
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uOpt
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Dec 26, 2014 21:44 |  #8

Worn tires are the top point of lease return trouble, especially for BMWs with staggered tires that you cannot rotate.

On mine I will monitor depth and replace them when I see I can't make it, then switch back to the OEM tires before returning keeping or selling the new ones.

I also got winter wheels partially because of this since I can't wear out the OEM tires for free either way.


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PhotosGuy
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Dec 28, 2014 09:12 |  #9

uOpt wrote in post #17352115 (external link)
On mine I will monitor depth and replace them when I see I can't make it, then switch back to the OEM tires before returning keeping or selling the new ones.

Great idea!


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awesomeshots
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Dec 28, 2014 12:07 |  #10

I'm on my sixth lease and I trade my cars in three to four months before the end of lease. Until a few months ago I only leased Mercedes or Audis and they pay your last four to five payments to keep you in their constant financing lol. (I still got an Audi but wife wanted a ford flex)
But the beauty of it is they don't bill you for the wear and tear/ minor damages. Also it's great for the odd month lease plans like 27 or 39 months because you give the car back before you have to renew the tags since here in California it could cost about 400 bucks to renew registration.

Only time I waited to turn the car in was back in 2006 and the front tires were under the minimum tread depth so I went and got a pair of used tires and I was out the door for fifty bucks. :D


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awesomeshots
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Dec 28, 2014 12:13 as a reply to  @ uOpt's post |  #11

I don't know about your state but here in Cali you can buy any brand of tire and put it on your car. Manufacturers can't force you to put a name brand tire on your car.
When I had my 2011 Audi I hit a pothole and had a blowout and the nearest tire shop didn't have the continental self sealing tire that the manufacturer put on the car so I went with milestar and had no problem with it. In fact wife must've paid a buck or two extra each month when the lease was up I've got a $400 check back. :D


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BMW Leasing, etc.....
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