Car Leasing question

[Cruez]

Ok, the lease on my car comes up next April. I am allowed 60,000 miles at the end of a 4 year lease. It is a closed-end lease.

I know I am going to go over the mileage a bit. but we are going to buy the car when the lease expires. Since we are buying the car I dont have to worry about paying for the mileage....Correct??

Depends on the fine print. And what you and the dealer agreed upon when you signed the lease. Mostly, I'd say that is the case. If you're buying the car at an agreed residual value, you can use it as much as you want. Unless the lease or any other agreement says otherwise.

Then you're bound to pay for the extra miles and then buy the car. Two transactions.

I would call the salesman that put you in the lease, or at least the dealership.

[MrEd]

I would call your bank or whoever is loaning the money for the buy out.... Car dealerships HATE that, and the bank, will take care of all that, and hopefully get you a better buy out package too.

[jman01pa]

If you are buying the car, the mileage is irrelavent. The car could be totaled and no one would care. I sold cars part time for a Chevy dealership for a while. Hated the job but made a few bucks.


If it is a Dodge, I believe they are running a promotion on Leased vehicles. You are aloud to trade in a vehicle a few months before the lease expires and suffer no penalty reguardless of the mileage. Pretty neat if you have a ton of miles and want to lease again....


J