If you turn in a leased vehicle at the end of the lease and are over the mileage, they charge you for each mile (usually between 10 and 15 cents) because it affects the resale value of the car. The more miles the car has on it, the lower the resale value. If you buy the car instead of turning it in though, they don't care how many miles because they don't need to sell it, and you'll end up paying what's left on the original sale price of the car..

 

yep, there is a fee if i go over the limit. i think its .13 per mile over. i'd have to check to be sure. however i dont think its going to be a problem for me because i've had the car for 1yr (366 days to be exact), and im about 800 miles under what im supposed to be at.

and yes, if you do buy the car at then end of the lease, mileage does not matter.

 

I'm on a "purchase option lease" and I am definitely going to buy this baby. The sales guy broke it all down for me. He said that if you want to "buy" the car, it's better to lease it for 2 years or so, then buy it. That way you get a nice low payment now, and a lower payment (because the car would be 2 years old) when you decide to buy it. Not sure how accurate that is, but it's what I'm doing.

-Chris