if you lease a car , and decide to buy out the car at the end, and you went over your mileage, will they still

Question

charge me for going over your prescribed mileage? because i want to buy out but not sure if the dealer will charge me for going over. thanks

Answer 1

NO! The only time they charge mileage is if you turn the car in at the end of the lease. You will only be responsible for the purchase price indicated on your contract and any applicable sales tax.

Answer 2

Gee, you typed a great style of nonsense to easily ask the question "ought to i purchase or lease?" basically positioned, in case you purchase a vehicle and intend topersistent it for an prolonged volume of time you get a greater suitable deal than leasing simply by fact a broking would be a splash greater versatile on his value. in spite of the shown fact that in case you do no longer positioned on a great style of miles and want a greater modern vehicle each and every few years then lease it yet observe the broking will write the lease and parent the money based on the entire decal value. I keep my vehicles 10 years in the previous thinking of having a sparkling one so leasing isn't an decision for me yet i'm getting my funds's particularly worth out of that vehicle.

Answer 3

Your purchase options are printed on the back of your original lease contract.
Each Lease-Lender has different post-lease purchase options.
Also there are different contracts for each state of the US.

In Illinois, where I am in the auto business, I have never seen a lease-lender charge for excess mileage on a vehicle that is purchased by the original lessee.

When you purchase the vehicle, you are purchasing the "used" vehicle "as is".
You are actually purchasing from the lender, NOT the dealership.
The dealer doesn't own the vehicle, the lender does.
The dealer only acts as an agent for the lender to handle the paperwork for them.

If you leased from an independent lease company (not an auto dealership) they will also have different purchase options for you , but those option are always stated on the original lease contract.
In your particular case the ONLY correct & answer to your question is already in your posession. It is on the contract.


I've read hundreds of lease contracts word-for-word, front & back....& never seen excess mileage charges on a post-lease purchased vehicle.

Answer 4

That depends on 3 things:
1) If there is specific language in your lease that addresses mileage at turn-in time. You may have signed away your ability to not have to pay for the overage even if you purchase the car.
2) How bad the dealership is doing at that moment. If they are hurting for sales, they may be more inclined to waive the mileage fee if they think it will help sway you to finance the remaining amount. Offering cash is less incentive for the dealership since they will be making the interest from the financing.
3) Your credit rating at the time. If you have excellent credit, then you will get lower interest rates and they will be more inclined to get money from you in other ways (like charging for the mileage).
Remember - their # 1 goal is to get money from you.