I did a one-pay 18 month Nissan Frontier Pro 4x lease in April 2023. 18 months brings it to October 2024. I did 10k miles per year so that gives me a total of 15k miles to use which I’m now slightly over. I just learned I could buy additional miles now at only .10/mile which is better than the lease terms overage of .25/mile. You can do so they say as long as its at least 30 days from your lease expiration. Since technically my lease expiration is in October, I’m wondering if I can buy my overage and then if I want to turn in my lease early like perhaps in a week or so. Trying to ensure it’s 30 days from actual expiration and not within 30 days of actually turning it in.
My registration is up for renewal July 1 at around $800 in Colorado, so I’d rather not pay the full registration cost to only drive it another few months. If I can get out with the .10/mile overage that sounds good to me and I can finalize a new lease within the next couple of weeks - and turn this in after I have finished a new deal.
Edit: Sorry, confusion. I’ve purchased 1k additional miles for $100 already to bring the total to 16k miles and I’m currently at about 15,700. I mean I am not going to purchase the vehicle.
Sorry, edited my comment for clarity. I thought you meant purchasing the vehicle. (Not going to do that, but yes I did purchase 1k additional miles already). I guess the question regarding lease terms is ‘lease maturity.’ I’m trying to figure out if Nissan is referring to when my 18 month term expires or if maturity could also mean the moment I turn in the lease? Basically trying to see if it’s a problem if I purchase exactly the mileage I need to cover the overage and then turn it in tomorrow, rather than 30 days from now. My technical 18 month term ends in October, but I did a one-pay lease so I don’t owe payments.
As far as I know lease maturity is the date on the contract. I don’t think there are any additional caveats on “grounding date” vs “lease maturity date”
If you are happy with the lease, you can also extend it for 3 month at the same payment and prorated miles which will last you through the end of the year and allow you to shop for year end deals.
I didn’t initially plan for a shorter use of 14 months but I hit the milage - wish I would’ve done a 12k/yr lease but then again this .10 extra per mile is about the same anyways compared to the bigger initial premium. I’m now thinking out loud I’ll just ride the full 18 months. I just paid my registration renewal since it’s “suppose” to transfer unused credit toward the next vehicle’s registration. Thanks for getting me to come to this conclusion lol.
Thanks for the tip - is this something that is a pre-set offer from Nissan or would it be a whole new negotiation with a dealer? Btw my current lease was an 18 month one-pay so I don’t have a payment so I wonder if it would still be an option.
