Currently leasing a Kia Optima. 5 months left and already over mileage.
I called the local dealership and they said I could trade in my Optima for another lease on a Kia and there wouldn’t be any over mileage penalties. Does this mean they are just hiding the penalties by rolling it into the next lease?
Anyone have any experience trading in lease for a new lease to avoid penalties?
We would be getting the Sorento or Sedona, if that makes any difference.
TIA
I’m not an expert, but I would ask them to clarify. They might not penalize you for the mileage, but the remaining 5 months they might very well be trying to roll that into your next lease, unless they have a pull ahead program, where they are voiding these payments, to get you into a new lease. I’m sort of in a similar situation with my VW lease, except that I am way under mileage, and I’m hoping (but not expecting) that there might be some equity on my part. Wishful thinking probably. But at least i’m not over 
I’d ask them to clarify for sure, before moving forward.
They could mean you just trade it in and take a loss (or gain, but unlikely) on the lease payoff. If the dealer pays the lease off, the lease company doesn’t care how many miles it has.
Dealers can’t really make a deal on a lease unless your car is over value. (Like a honda or a toyota).
Most likely they will hide the fees into your next loan.
They will roll the reamining payments and other fees into your next lease. typical dealer tactics, unless it was a car that had equity.
Update:
I went over and talked with the dealership. Again, they said “no problem, no penalties for over mileage”. Of course that did not end up being the case. Using a Sorento as the new lease (24 month $242/$1999 down was what Kia is saying), the cost for the lease was like $600 and something a month for 2 years.
Because there is so much negative equity in the Optima, they just treated it as a trade in and gave me trade in value which was less than a Ford dealership gave me a week before.
Looks like I will need to gut this one out another 5 months and trade in for a loss. This way I can get the car I want and not another Kia.
You said ‘Gut this one out for 5 months’ and trade in for a loss?
You don’t trade in for a loss, you just take the over miles and pay it. It’s cheaper.
It’s cheaper if you’re over mileage is like 2-3k. When you will be over 15k miles, you have to get creative.
If OP is 15k Over his current lease. Then leasing a car again (like he stated) is extremely stupid.