Going Over Mileage On A Lease
05-15-07, 11:40 AM
#1
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Going Over Mileage On A Lease
I've heard that the dealership will not penalize you for going over mileage on a lease under either of these conditions...
1. You purchase the car by the end of the lease.
2. You return the car about 6 months early in exchange for another Lexus lease.
Has anyone had experience with the latter? Thanks.
1. You purchase the car by the end of the lease.
2. You return the car about 6 months early in exchange for another Lexus lease.
Has anyone had experience with the latter? Thanks.
05-15-07, 11:42 AM
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I recently turned in my lease early and its true if you buy it you dont get penalized, but I went some where else and had to tack on the remaining lease buyout price to my new car.
05-15-07, 11:57 AM
#3
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The first option is a default action - you will be charged for ANY fees if you buy it at the end - this includes excess wear and tear, mileage, damage to the vehicle, and whatever else. If you buy it at the predetermined rate then it's only your concern what kind of shape the car is in.
The second option is really at their discretion. They don't have to do it, and they will compare what the excess mileage is going to cost them in depreciate and decide if they'll come out ahead and still make money if they sell you or lease you another vehicle.
The second option is really at their discretion. They don't have to do it, and they will compare what the excess mileage is going to cost them in depreciate and decide if they'll come out ahead and still make money if they sell you or lease you another vehicle.
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