For those that want low monthly car payments and like to drive a new car every few years, leasing a car is a popular option. However, that option can look less attractive if you drive a higher than average number of miles per year. Those with long work commutes or very busy schedules may hesitate leasing a car due to the mileage restrictions (usually around 12,000 miles per year). While Prime Motor Car offer leases up to 15,000 and 18,000 miles, there is an option that allows drivers to purchase what is known as an extra mileage car lease.
How Does Purchasing Extra Miles Work?
Lease terms are based on the difference between the car’s original price and its residual value at the end of the lease. So, the more miles you put on a car during a lease, the lower the value of the car will be at the end. With that being said, the rate for purchasing extra miles is set by the lease company. Rates usually range from around 10 cents per mile to 25 cents per mile. Rates also depend on the type of car that is being leased.
Extra miles cannot be purchased during your lease. The terms of the lease with the extra miles must be determined before the lease is ever signed, so knowing how many extra miles you’ll need will be helpful information.
The Benefits of Purchasing Extra Lease Miles
Paying for miles in advance can be less expensive than simply going over your allotted miles and paying for them at the termination of the lease.
Some lease companies will refund you for unused miles
You can pay usually pay for extra miles in advance, along with your down payment
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ZAK AUTO LEASING is proud to be one of South Florida’s top car leasing and purchase companies, meticulously built around a team of automotive professionals with over 40 year’s experience in the industry. With our direct connections to car manufacturers and dealers around the country, we are able to get you the lowest car pricing and best financing in town, all from the comfort of you own home and without any of the typical back and forth, multiple visits, being hammered by the sales staff and most importantly spending a ridiculous amount of time at the dealership. No Down Payment Required. We service all of South Florida including, Miami, Coral Gables, Doral, Fort Lauderdale, Hollywood, Deerfield Beach, Delray Beach, Boca Raton, West Palm Beach, Parkland, Weston, Naples, Tampa and many other cities. Some of our brands include Acura, Audi, Bentley, BMW, Cadillac, Chevrolet, Ford, Honda, Infiniti, Jaguar, Land Rover, Lexus, Maserati, Mercedez Benz, Nissan, Porsche, Toyota & More. Our staff of experts are here to help you select from our huge inventory of cars, trucks, and SUVs. We have access to every major make and model available at great prices! Give us a call at 954-531-0881 or send us a message if you don’t see what you want.