2007-04-04 06:54:04 · 5 answers · asked by ED R 2 in Cars & Transportation ➔ Buying & Selling
The only lease that I know of that repays you for mileage not used is through GMAC. They offer three different lease mileage plans. Standard lease is 15000/year, low mileage is 12000/year, and ultra low is 10000/year. If you plan on going more than 15000/year you can purchase additional miles up front and have the cost rolled into your payment. Then at the end of the term if you have not used all of your mileage they do pay you the difference.
2007-04-04 08:31:58 · answer #1 · answered by ironcurtain1977 2 · 0⤊ 0⤋
Unfortunately, you will not get any money back. When you Lease a vehicle, your mileage is predetermined and prepaid in accordance with your driving habits. Your Car Salesman would have asked you the approximate miles that you drive in a year to determine this. There are several mileage "bands" available on a Lease ranging from 10K miles to about 20K mileage. If you go over your alotted mileage, you will be charged a fee of $0.20 per mile over.
The only way that you will get money back is if you are way under on your mileage and your Explorer is worth more than what your residual value is at the end of the Lease. Because the SUV market has been so poor due to rising gas prices and the newfound need to be green, your Explorer will not be worth too much.
2007-04-04 07:09:18 · answer #2 · answered by SmartGuyMark 2 · 0⤊ 0⤋
No, and your buying price will be much higher than market for the same truck. Consider trading in for a lease on an Escape.
2007-04-04 07:05:56 · answer #3 · answered by obelix 6 · 0⤊ 0⤋
No. but they will charge you strong for any miles over the limit.
2007-04-04 06:59:16 · answer #4 · answered by Fordman 7 · 0⤊ 0⤋
no
2007-04-04 06:57:35 · answer #5 · answered by the need to know 3 · 0⤊ 0⤋