I’m over my miles on my lease anybody knows any best option I’m over by 30.000 on Cadillac Escalade 2016 I don’t want to buy it out I want a different car but try to save some money on over miles charge I don’t want pay to much back can I just give it in a different dealership and get different one
Dealership has nothing to do with it. You signed a contract with GMFinancial and it’s their car. You will have to pay unless you sell the car outright.
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You’re completely hosed, get ready to pay one way or another. At $0.20/mile, which I think is where you’re at, that’s $6000. What do online places like carvana vroom etc peg the value at? What’s the payoff?
How is it possible to lease a vehicle with a mileage restriction and then go over by 30k miles?
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welcome go UGHMEREEKA
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am I the only one hate reading post without punctuation???
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Did you forget to breathe by the end of it, as well?
Op, either pay the mileage overage, park the car, or sell it out right and cover the negative equity.
If the negative equity is higher than the cost to pay the mileage overage, then pay the mileage overage.
No way out of this without spending money.
More like $0.25/mile if not more.
it’s $0.20 if you buy them upfront. $0.25 at the end
I can’t figure out why someone signs a contract knowing what the overage is, then decides they want a discount at the end. That’s like if you were a contractor for me, I sign a contract with you to do X amount of work, go over my budget by picking out higher end fixtures, then decide I don’t want to pay what I owe, but keep the high end fixtures.
GM kept their end of the bargain based on the contract signed. Why does OP feel he shouldn’t too?
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It’s pretty clear the OP doesn’t know how a lease works and was just enamored by the lower payment.
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My guess is it’s .25 for overages. Your pretty much between a rock and hard place. I don’t think there will be anyway to wiggle out of this one, your going to have to pay it. Escalade have probably the worst re-sale value of any vehicle in existance, so I wouldnt count on selling for close to buy out, or getting any serious offers from the buying sites. Good News, you got to drive an Escalade for an extra 30,000 miles for around $7500 bucks. People are spending that or more on leashackr worthy Civic and Hyundai leases for those amount of miles.
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Alright guys, funtime is over. I know I got a good laugh. Time to stop looking at the dumb move OP made and his naive belief that he can somehow get out of it without paying too much.
OP you realistically have 2 options.
- Sell car to third party dealer, carvanna, shift, etc…
- Turn car in and pay $$$$
You have to decide which one will save you some cash. There is no mystery box third option!
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- Buy the car and drive it until it dies, if you have the money or can find a bank/cu to finance it
I hope and pray that most of these type of posts are just trolls. But deep down I know most aren’t. Hopefully the OP was able to afford the lease. Escalade leases aren’t cheap so 6k in overages is a much smaller percentage of the lease price than it would be for say my MDX, which also charges 25 cents per mile over lease.
As a side note, maybe the OP just has bad grammar but seems more likely English isn’t his first language (I’m not anti immigrant and don’t mean this to be political). I’m a native English speaking lawyer and I spent maybe 60 minutes dissecting my last lease agreement. I can’t imagine doing that if not a native speaker.
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Guess you got carried away and racked up those miles. Were you using that esclande for uber? Sale care outright or return car back to dealer either way you have to pay out of pocket.
I don’t know about English being the primary language or not, but the “.” instead of the “,” would strongly indicate that the person isn’t originally from the US (and I don’t know if leasing, as a we know it, exists in other countries…).
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Only option is selling it to carmax, carvanna , etc and hope th negative eggity is less than the over mileage either way no dealership is gonna swallow the over mileage just because you get another car they will cut you check perhaps but that’s gonna be sinked in right in to the new car payment , foood for thought but seems like OP IS NOT fit for leasing
You would think when someone hits their mileage limit halfway through their lease, they would start considering the impact it will have. SIGH
So, what’s a person suppose to do when they noticed that they’re going half way thru their lease? I live in the suburbs of Houston which is 30 miles away from downtown Houston and etc, so I can see how mileage can rack up easily for me.
Is the point of leasing for someone like me to drive my car during the weekends only and use a another car for the weekdays? Or do you restructure your lease agreement to cover your miles; I had a salesman tell me that a realtor got a s-class for a lease and restructure it for 50k miles a year, since she drives all over Houston. Don’t event know if that’s possible.
A few years ago I had lease a Vw cc(bad car to lease) I thought I’d buy it after my lease was over, but some one hit the back bumper and my resale value for it dropped. I ended up just trading in the car and got charged with the negative equity to the new car I bought. In retrospect I should’ve just bought the car.
I think the OP should just keep the car and just pay the amount that is needed for the mileage because if they trade it in they’ll have too much negative equity probably. But don’t be discouraged, just pay the price.