Leased Car question-Over Miles!!!!

[thetieguy]

If you are leasing a car and go over your miles then decide to buy it, do you still have to pay for the miles you went over? I hope there is a car salesman on here who knows the answer. Thanks so much!!!!

 

[dcg]

I'm almost positive you do not have to pay for the miles in that case, and that it's one of the major reasons why people buy cars at the end of the lease period.

 

[FidelCashflow]

if you're buying the car, what do they care how many miles are on it? They only charge because excessive mileage reduces what they can sell it to another person for.

 

[grimslade]

You have to pay them the assumed residual value, but since you're buying it, you'd in effect being paying twice for the excess miles if they hit you with a penalty. Unless they hit you with the penalty but then reduced the price accordingly.

 

[huy]

No you don't have to pay. Who would buy the car if they also had to pay an over milage penalty?

 

[redtree00]

Most people are unaware that you can negotiate the buy out/residual at the end of a lease.
I was able to haggle over 6K off the residual on an end of lease purchase.

 

[thekunk07]

there is a per-mile over the limit charge on my lease for .30 per. i am way under though.

 

[edmorel]

the way car sales are going, they'll pay you to continue to drive it and keep it off their lot.

 

[grimslade]

I guess I should have leased three years ago...