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Posted: 01/29/09
07:24 AM
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has any one turned in a lease vehicle that was over mileage? What we the consequences?
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AustinM
New User
| Posts: 1
| Joined: 01/09
Posted: 01/29/09
09:31 AM
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You will be assessed a mileage fee of 20 to 35 cents (depending on your contract) per mile for every mile over the limit. This is listed on your contract in the big box on the front (called the Fed Box) that spells out everything you must pay over the life of the lease and what you will be charged if you exceed the contract mileage. Many finance companies will overlook a certain amount of excess wear and tear, but they will always charge you for excess mileage.
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Posted: 01/30/09
06:49 AM
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As AustinM said, the consequences are spelled out in your contract. You may be able to buy some additional mileage before your lease term is completely up, but the cost will be higher than if you had purchased them at the beginning of the lease.
I've never heard of an unlimited-mileage lease. Seems like a dealer claim I'd look for in print before actually signing a binding contract.
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