Car Lease Agreement Mileage

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Mileage Log - isber ucsb

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What is car lease agreement mileage?

A car lease agreement mileage refers to the maximum number of miles a lessee is allowed to drive the leased vehicle during the lease term. It is an important factor to consider when signing a car lease agreement as exceeding the agreed-upon mileage limit can result in additional fees at the end of the lease.

What are the types of car lease agreement mileage?

There are typically three types of car lease agreement mileage: 1. Annual Mileage Limit: This type of mileage limit sets a maximum number of miles the lessee can drive the vehicle in a year. 2. Aggregate Mileage Limit: This type of mileage limit allows the lessee to drive a total number of miles over the entire lease term without any yearly restrictions. 3. Per-Mile Fee: Some lease agreements may not specify a mileage limit but charge a fee for each mile driven beyond a certain threshold.

Annual Mileage Limit

Aggregate Mileage Limit

Per-Mile Fee

How to complete car lease agreement mileage

To complete the car lease agreement mileage, follow these steps:

Read the lease agreement carefully to understand the terms and conditions regarding the mileage limit.

Determine your driving needs and estimate the number of miles you expect to drive annually.

Discuss the mileage limit and any possible adjustments with the lessor before signing the lease agreement.

Document the agreed-upon mileage limit in writing to avoid any disputes in the future.

Keep a record of your mileage throughout the lease term to ensure you stay within the agreed limit.

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Questions & answers

Is mileage negotiable on a lease?

Look closely at the mileage allowance in your lease — which is often 12,000 or 15,000 miles per year. If you anticipate driving more than that, negotiate extra mileage upfront. It may be cheaper to pay for more miles now than pay the per-mile fee later.

How can I avoid paying miles on a lease?

Park it. If you don't want to pay for extra miles and don't plan on purchasing the car when the lease is up, another viable option is to park it. With this method, you'll need some extra cash or friends that are willing and capable of driving you everywhere.

Is a 15000 mile lease worth it?

A high-mileage lease allows you to drive more than the 10,000 to 15,000 miles you're typically allotted when you lease a car. That can mean a higher monthly payment — but it may be worth it. The fees you'd pay for exceeding your lease's mileage cap could cost a lot more.

Can you add mileage to a car lease?

Leasing companies often allow lessees to buy some extra miles, but typically only at the start of the lease. If you're a lessee who knows you're going to exceed the typical mileage limit, then it's a good idea to buy extra miles while finishing up the contract.

How do you deal with mileage on a lease?

Take a look below at your options if you know you get close to or exceed the mileage on your lease. Turn the Car in Early. Due to economic factors, dealers today may want you to turn in the leased vehicle early. Buy the Car. Trade the Car at a Dealership. Pay the Fee. Stop Driving the Car.

What is the average mileage for a lease?

Most car leases come with mileage caps, usually between 10,000 to 15,000 miles a year. Going over your mileage cap can be costly, usually ranging from 10 to 25 cents per additional mile driven.