What should someone expect on a high mileage lease payment? I’m looking for 25k/yr so let’s use that as the example.
Should you just expect to pay close to double what the advertised lease deals are (usually 10/12k miles)?
Just curious because there’s not a lot of forums online about high mileage leases (I posted an exact offer I got in another post). But wanted to get a thread going about people’s experiences or deals they’ve got on high mileage leases.
GMC deducts 3% from a residual to go from 10k/yr to 15k/yr on a 3yr lease. On a $40k MSRP vehicle that will cost you $1,200 (or 8 cents/mile). GMC charges another 20 cents/mile over that. On a 3yr lease that will cost you $6,000.
Let’s say you can lease a $40k/vehicle with no cash due at signing for $400/mo for a 36/10 lease, owing another $7,200 will bump up the cost to $600/mo.
Some leasing companies only charge $0.10/mile which would be considerably less.