Lease over mileage fee Vs upfront more mileage

Ask the Hackrs
1

Hi leasehackrs,
Have you paid “over mileage fee” than the one you signed. How much did you pay for the over usage:

  1. 0.20/0.25 per mile? or were there additional charges beyond that?
  2. will it be profitable to buy 12k instead of 10k miles per year Vs paying per mile for the extra 2k miles (if that happens) - because the dealers are quoting $1k to $2k more for 12k instead of 10k. by doing the per mile overusage, it seems cheaper to pay per mile than opting for 12k miles. what do you think?
    please share your thoughts and experience.
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2

#1 Depends entirely on the bank and manufacturer/model. You will pay whatever the overage amount is per mile that is in your contract.

#2 The higher cost for leasing 12k vs 10k is due to a lower RV. In some cases it can be cheaper to lease 10k then pay 2k overage at lease end, while in others it’s cheaper just to lease 12k from the beginning.

You just have to run the numbers for each specific make/model scenario you’re considering.

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3

Each lease has different terms.

Nissan has 0.10 Flex Lease option, most are 0.25, some more…

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4

do the math and see which way works out to be cheaper

5

Usually, higher MSRP vehicle benefit from paying the mileage overage charge, instead of lowering the RV, while lower MSRP vehicles is the reverse. The other thing to consider, are you sure you really need the miles? I don’t like buying miles upfront, even with lower MSRP, because my driving patterns can change, and I rarely take a lease all the way to disposition.

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6

Thanks everyone for the inputs. this is for EV9 MSRP $66,500 and by pure numbers ($0.20 per mile overage) it makes logical sense to go use overage.

comparing 10k vs 12k miles the differences are : ~$700 to $1200 (in calculator & dealer quotes); whereas flat overage costs only $400.

I just want to make sure there are “no hidden charges to the overage charge” buried in fine prints (sometimes even the sales reps/dealers aren’t aware or explain). sounds like a ‘no’ and straight forward.

7

I was wondering the same. I got a tundra with 12k/year and the overage charges are only $0.15 per mile. That seems pretty cheap and I think I’d prefer to have fewer miles listed in the lease.

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