Hello. I am currently in a 36 month lease 12,000 miles a year for a 2017 Chevy Silverado LTZ 1500. I love the truck but I currently have over 24,000 miles on the truck and 18 months left. I put the truck up on Swapalease in June and have not had any hits (had less miles then). I am unsure of what to do besides letting it sit for awhile. Any input or suggestions would be greatly appreciated!!
Ride it out and trade it at the end… at this rate you’ll be 12k over on miles which is ~$3,000 in Excess wear and tear. Did you purchase Excess wear and tear when you leased? that would eat up a portion of the overage and you can just pay the remainder.
My wife’s previous lease we were at 34k out of 36k miles after 2 years out of a 3 year lease… Kept track of Trade value vs payoff and ended up being ony 1k upside down when trading for a new lease…
Haha, my girlfriend is in the exact same position with a 2016 Silverado LT. It’s currently at the mileage limit with $5k in payments left until 6/2019 but we have a 2005 Odyssey Touring that she now drives most of the time. Driving the van is her punishment for doing a 36/10 on a loaner that already had 6k miles on it 
It’s actually a great vehicle, we love it.
Trade it in if value is close to payoff, or ride it out and get a second vehicle to eat some of the miles if it makes financial sense…we got trade-in quotes and it is WAY upside down. Like $5k upside down. So it might as well sit in the driveway most of the time. The Ody has already eaten 8k miles that would have gone on the truck at $0.25/mile - so we have saved $2000 in overage, and we paid ~$3000 for the van including TTL. We are hoping to get a targeted early turn-in but it seems the odds are very slim.
More than likely I am just going to ride it out. I did purchase the Excess wear and tear so that does help a little bit.
May want to see if you can prepay for more miles on the lease. It is usually cheaper than paying the set mileage overage fee at the end.
According to GM Financial, you can only prepay for miles at lease inception.
Does excess wear and tear pay for excess miles with GM? That sounds odd.
Either now or when you get close to mileage limit, check with Vroom/Carvana.
well you are on pace for 48k, which will be 12k miles over. not sure how much per mile GM charges but you are looking at $2-3k in charges if reasonable rate. I think that is less than what you will eat in negative equity if you trade now, so I would ride it out or buy a beater to reduce the mileage
Ally has a policy where you get $400 in mileage waived, so 2k miles at .20/mile. not sure about GM
@titan2021oh - check in your lease contract what your excess mileage penalty is and consider if it’s worth it to drive less from here on out. See if excess miles are covered at all if you have an excess wear and tear policy.
Chances are good that there will be a “pull ahead” program when you get 3-6 months away from the end of the lease, and if so, you’ll probably be allowed your full 36,000 miles. So, let’s say you’re 6 months away and you have 38,000 miles on the truck, you’d only have to pay for 2,000 miles if you lease (or maybe buy) another GM product.
According to my Excess Wear and Tear contract, it covers up to $400 in mileage overage as well.