and that's one more reason not to lease a car
2007-06-27 05:44:03
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answer #1
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answered by hunting4junk 4
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What is the term or length of your lease? You can usually trade in your vehicle just as you would a purchase, if you do this before the lease matures. You have a total millage that you are allowed to reach 12,000 miles per year times how many years? So you probably have a total of 36,000 miles. You need to trade the car in before then. Hopefully you leased a car that holds it's value, and you won't be upside down when you trade it in. It is when you turn the car back into the dealership that you get screwed with mileage fee's among other things. Also many automotive companies will begin to send you lease by back letters about 3 to 6 months before your lease is up, that will help you out of that car and into another one. Good Luck.
2007-06-27 12:55:28
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answer #2
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answered by NeNe 2
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Even when you buy a car, mileage will cost you in lower resale value, so the fact that you leased a car, and going over miles is not worse than if you buying, you lose money either way.
BMW is the only company that will let you purchase more miles in the middle of a lease. Otherwise, just wait until the end, and pay the overmileage charge. Usually .20 per mile.
2007-06-27 14:58:15
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answer #3
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answered by jay 7
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Duhhhhh!
You still have about 30 or so months to go and the "over mileage" is a kick in the butt. The more miles, the more depreciation on the vehicle. Sorry, no refinance options.
If it was me, NOT, I would try to negotiate to buy the damn thing. No idea if that will fly. They have a good thing going for them. Your past lease payments and any advance $$ went down the sewer, so consider all this and inquire if you can recover any of the advance $$.
You would have to consider any recovery $$, the used resale of the vehicle, evidently low mileage, and the "Hit" at end of lease for excess mileage. Do some calc and determine how you will come out, if at all.
Read carefully all the fine print in your lease.
2007-06-27 13:03:16
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answer #4
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answered by ed 7
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When you leased the car,the average miles per month is 1,200. Is this car being leased on a yearly basis or 2,3,or 5 year lease? If it is being leased on a yearly basis you can asked the leasing company to change the contract. Once you sign a contract and you agree with the terms, you are stuck until the contract expires.
Leasing a vehicle isn't a good idea, unless you own a business. You are better off buying a car than to lease, as the mileage is unlimited.
2007-06-27 13:01:35
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answer #5
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answered by joedward6788 3
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If you decide to use that car for your new job, then you can do so, but you will either have to buy the car at the end of the lease, or you will have to pay for the extra miles. Even going overy your mileage by a moderate amount will cost you some serious cash, so you will probably find it a better deal to buy the car at the end of the lease.
2007-06-27 12:51:24
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answer #6
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answered by Anonymous
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There is no way to renegotiate a lease. Drive the extra miles and suck it up at the end of the lease. You will have to pay the extra mile charge at the end of the lease.
Leases suck, all a lease does is put you into a car that you can't afford to drive. Never lease another car.
2007-06-27 13:48:58
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answer #7
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answered by mccoyblues 7
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I would trade in immediately and purchase the next vehicle. If your car is in good condition and the mileage is not yet an issue, you should be able to come through it ok. However, if you attempt to renegotiate your lease, you will be forced to jump through a myriad of hoops in order to get what you want, and it will likely cost you as much in the long run as simply paying your penalty for going over your allotted mileage.
If you trade-in, the leasing company will allow your lease to be paid-off, and hopefully you won't be too far upside down in the deal. Good luck.
2007-06-27 12:52:36
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answer #8
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answered by kitchens68 4
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that's one of the main reasons right there not to lease a car,you,ll have to re-finance or have the lease changed,and this is going to cost you extra,there's no benefits at all to leasing a car,people are starting to realize this now,good luck hope this helps.
2007-06-27 12:47:41
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answer #9
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answered by dodge man 7
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ahhh, the beauty of the lease! good luck on trying to renegotiate... i've had friends who've actually gone out and bought "beaters" when they found out that their allotted miles weren't enough.
how much per mile are you going to get d!cked if you go over?
2007-06-27 12:46:17
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answer #10
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answered by tikiboy 4
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