Max mileage for year already.

Montydoesdallas

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I've had my GC LC for 4 months now (used)....done 4300 miles :thumby:
My lease agreement says i agree to 4000 a year, my insurance is 4500 a year....now i can't ride it for 8 months ! (theoretically) :nenau.

Anyone else gone over their mileage quota ?
 
Montydoesdallas said:
I've had my GC LC for 4 months now (used)....done 4300 miles :thumby:
My lease agreement says i agree to 4000 a year, my insurance is 4500 a year....now i can't ride it for 8 months ! (theoretically) :nenau.

Anyone else gone over their mileage quota ?
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Not a problem unless you hand it back and walk away if you PX it for a new bike the dealers will take the extra mileage into account when offering a PX price
this is normally higher than the hand back figure to help you into a new bike as this is how the system is designed

Quick phone call to your insurance should sort the excess mileage out with them
 
Just be careful when getting bike serviced as the mileage is logged and also your insurance maybe void too as you have the wrong policy!!!!!!!!!
 
Yes those were my thoughts too.....
Seems a weird thing to do....buy another bike 4 months after i've just got this one !
Might have to look more into the insurance thing too....over 4500 miles a year it went up dramatically.
 
Montydoesdallas said:
so worth buying a new bike already ?
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I am talking at the end of the term you have 5 choices

1- hand it back and pay any excess mileage and any damage charges usually the worst option

2- PX it for a replacement this is usually the best option if its in good condition but just a bit over on miles as the dealers tend to give more than the hand back value leaving you with a deposit on the replacement

3- Pay the balance and keep the bike refinancing if necessary

4 Sell bike and pay off balance and keep or add the difference the bike needs to be paid before you sell so the buyer tend to prefer paying the bike off and giving the seller the balance

5- Use the voluntary termination rules to hand the bike back after 50% has been paid the finance companies dont like this but it is a right you have within law
 
I'll probably keep the bike, just didn't want to worry too much about mileage, after Oct it probably won't get used to much until April.
Got the RTTW 4/5 Oct then it'll get a yearly clean and garage fr 6 months through winter.

Thanks anyway.
 
Montydoesdallas said:
I'll probably keep the bike, just didn't want to worry too much about mileage, after Oct it probably won't get used to much until April.
Got the RTTW 4/5 Oct then it'll get a yearly clean and garage fr 6 months through winter.

Thanks anyway.
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The only thing you need to do about the mileage is tell your insurance, BMW dont give a hoot unless you hand it back at then end of the term just use it and enjoy it
 
Every 1000miles over your agreed mileage at end of lease is charged at £100 so I've been told.
 
On my BMW lease plan it states in the excess mileage chapter that they will charge me 9.22pence per mile in excess of the maximum total mileage of 20,000 miles.
 
fazerbill said:
On my BMW lease plan it states in the excess mileage chapter that they will charge me 9.22pence per mile in excess of the maximum total mileage of 20,000 miles.
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Mine on the 800 is 4.55p and the S1000RR is 6.69p looks like they dont want too may miles on the big bikes aimed at their touring customers the 1600 is up to 14.81p :eek:
 
Just tell your insurance company, it made hardly any difference to the cost of my insurance so I went for 10,000 a year. It's 3 months old and now has nearly 7000 miles on the clock so I guess I may well exceed even the 10,000 limit.
 
Nippy Normans supply Touratech, Wunderlich, Desert Fox and many other makes of accessories.
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