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Posted: 2/25/2007 12:52:57 PM EST
Can leases be had with 20,000 miles a year for 3 years or so?

We're all familiar with the standard 12,000 mile a year lease, but are there options for higher mileages?

Or am I going to have to buy the friggin thing?

Link Posted: 2/25/2007 12:54:14 PM EST
There's usually options to lease cars for more miles.
Link Posted: 2/25/2007 12:54:34 PM EST
I'm sure you can get some kind of high mileage lease. The question is will it be worth it? Maybe you should ask the company you are considering leasing from?
Link Posted: 2/25/2007 1:00:09 PM EST

Originally Posted By DOW:
Can leases be had with 20,000 miles a year for 3 years or so?

We're all familiar with the standard 12,000 mile a year lease, but are there options for higher mileages?

Or am I going to have to buy the friggin thing?



If you lease a car, make double-sure that you predict closely-a little over actually-the miles you'll drive each year for the lease term. You can lease a vehicle with any amount of predictive mileage, but keep in mind your payment will reflect additional mileage/depreciation.

When you lease a vehicle, you're paying for the portion of that vehicle that you actually use, and if you don't go over the miles you can dump it at the end of the contract, or even buy it at it's depreciated value.

The only value of a lease is being able to drive a much more expensive vehicle with lower payments than you'd have if you bought it outright.

HH
Link Posted: 2/25/2007 1:05:27 PM EST
You almost always can, but another option is to lease for the standard 15k miles per year and negotiate a lower price per mile for the extra miles. With the last trucks we leased, I negotiated 8 cents per mile over and according to Kelly Blue Book, the trucks actually lost 14 cents per mile in depreciation. We came-out way ahead by leasing instead of buying.

Also, make sure you talk to several banks rather than just the single one the dealer will negotiate with. I've saved a lot of money by dealing with the clueless idiots at SouthTrust on leases. They don't know enough to understand completely how leases work so it's easy to outsmart them.z
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