Miles on a Lease
Thread Starter
Pit Crew
Joined: Jan 2012
Posts: 204
Likes: 9
From: IL
Miles on a Lease
Need some advice here... My current lease has 15k miles. I am way under.
My commute each day is 26 miles round trip. Would I be ok with doing 12k? That comes out to 32.9 per day over three years. I know the difference between 36k miles and 45k miles over three years is $2,250 at 25 cents per mile or $62.50 per month. Going from 12k to 15k per month on a 36 month lease is only an additional $29.00. That is a total of $1,044 over the length of the lease. Big difference from $2,250.
Does Lexus typically make you pay for the overage miles? Or do they waive them if you lease another Lexus? Obviously if I purchase the lease it is a moot point.
Any advice?
Thanks!
My commute each day is 26 miles round trip. Would I be ok with doing 12k? That comes out to 32.9 per day over three years. I know the difference between 36k miles and 45k miles over three years is $2,250 at 25 cents per mile or $62.50 per month. Going from 12k to 15k per month on a 36 month lease is only an additional $29.00. That is a total of $1,044 over the length of the lease. Big difference from $2,250.
Does Lexus typically make you pay for the overage miles? Or do they waive them if you lease another Lexus? Obviously if I purchase the lease it is a moot point.
Any advice?
Thanks!
Driver
Joined: Apr 2019
Posts: 106
Likes: 6
From: IL
just put it up on lease trader/swap a lease for someone to take over your lease. Then get a new lease. I heard lexus lease transfer is pretty straight fwd unlike Porsche..Why don't you post details here in case someone interested. months / miles remaining, monthly payment etc
Lead Lap
Joined: Nov 2013
Posts: 4,309
Likes: 1,231
From: IL
Unlike condition which is a tiny bit subjective, miles are absolute and documented
on reports to Lexus Financial, your Secretary of State, CarFax and Lexus Service for
warrantee coverage. What is waived when you re-lease is the Termination Fee.
You are correct, if you buy out your lease then you don't pay any condition or mile
fees, just the tax and plate transfer (car was LFS's and you are buying it from them).
on reports to Lexus Financial, your Secretary of State, CarFax and Lexus Service for
warrantee coverage. What is waived when you re-lease is the Termination Fee.
You are correct, if you buy out your lease then you don't pay any condition or mile
fees, just the tax and plate transfer (car was LFS's and you are buying it from them).
Driver School Candidate
Joined: May 2019
Posts: 2
Likes: 0
From: MO
I've gone over miles on almost every lease I've ever had. You only pay out of pocket if you turn it in and walk away, if you re-lease or buy it out you are not at risk as long as you haven't gone WAY over.
Pit Crew
Joined: Sep 2015
Posts: 123
Likes: 16
From: CA
Need some advice here... My current lease has 15k miles. I am way under.
My commute each day is 26 miles round trip. Would I be ok with doing 12k? That comes out to 32.9 per day over three years. I know the difference between 36k miles and 45k miles over three years is $2,250 at 25 cents per mile or $62.50 per month. Going from 12k to 15k per month on a 36 month lease is only an additional $29.00. That is a total of $1,044 over the length of the lease. Big difference from $2,250.
Does Lexus typically make you pay for the overage miles? Or do they waive them if you lease another Lexus? Obviously if I purchase the lease it is a moot point.
Any advice?
Thanks!
My commute each day is 26 miles round trip. Would I be ok with doing 12k? That comes out to 32.9 per day over three years. I know the difference between 36k miles and 45k miles over three years is $2,250 at 25 cents per mile or $62.50 per month. Going from 12k to 15k per month on a 36 month lease is only an additional $29.00. That is a total of $1,044 over the length of the lease. Big difference from $2,250.
Does Lexus typically make you pay for the overage miles? Or do they waive them if you lease another Lexus? Obviously if I purchase the lease it is a moot point.
Any advice?
Thanks!
If you are "way" over the milage, they will charge you even the car is like brand new condition. if you getting a new lease, they are happy to give you a good deal, but as far as the miles over. you have to pay it. I went over 3000 mileage. if you are just little over, then not too sure
Thread
Thread Starter
Forum
Replies
Last Post