Newbie question: Bumping mileage overage cost?

Ask the Hackrs
1

First time posting but have been lurking in here for a while now. Finally signed my first successul lease and was able to replicate the deal that I wanted here and got my drive off cost and monthly payment goal successfully. I thought I did all my homework and paid due diligence as far as buyrate money factor, available incentives, residuals and declining all add ons. Numbers are as expected using the calculator when I reviewed the first couple of pages of the lease agreement.I even ask if there is a penalty for early lease buy out and got a satisfactory answer.

Long story short, after all my preparation and research the finance guy still got me. LOL, I signed and reviewed the documents in person but via Ipad. When I got home and finally reviewed all the documents, Finance guy sneak one by me and charged me .30/mi instead of the .15/mi advertised overage. Lesson learned.

Does the dealership make extra doing that? I really thought the overage is fixed just like residual based on car model.

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Not that I have ever seen. What’s the mystery car/brand?

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Subaru Solterra. Before heading into the Finance torture chamber, I even ask my sales guy and verified that its .15/mi. Maybe that’s why I was confident that everything else is ok. It gave me false confidence.

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I’m not as widely read/knowledgable as other folks here, but I’ve never read about that b/f.

Maybe call the dealership and/or bank to clarify what the excess mileage charge should be and what happened?

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I highly doubt that you would be subject to a higher mileage overage than other customers. Makes no sense that the finance manager gets a different commission for it when most customers don’t go over miles anyways.

Most likely the finance manager made a typo on the contract if you saw 15cent advertised as the overage fee currently

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Interesting. I’d be curious if they’re using the standard Subaru retail lease agreement, or a variation just for the Solterra (doubtful), but even the October national offer still says $0.15/mi

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Did you lease fewer miles than you need with the intention to pay the overage?

I would reach back out to the finance manager at the dealership and ask about it.

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Makes no sense for the bank to share any of the lease-end charges with the dealership.

Unlike any commissions made at inception, the dealership didn’t help generate any of that revenue for the bank.

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Can the contract still be revised to the lower overage if it’s already signed?

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Most likely your account with Subaru financial has the correct 15 cents overage associated with it

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Thank ypu for your help.

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I have the standard 36mo/10K…Even the sales guy told me its .15 before I went in to finance. Just didnt verify it during signing.

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If that’s what the lender charges for extra miles then that is what it is. That isn’t up to the dealer to change and it’ll probably get kicked for the error and you’ll be asked for fresh signatures.

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Probably correct excess mileage charge.

14

I had a honda lease kicked back because the dealer had the wrong miles listed. I wouldnt give this a second thought other than to be prepared to resign.

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The Finance guy reached out and according to him .30/mi is the correct mileage charge for Subaru/Chase for vehicles with MSRP of 50K plus.

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.30/mile is an average mile overage charge and not much you can do to change it

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It is?

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It is what it is. Neither you or the finance guy can change it in either direction.

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