Worried about going over the mileage limit on your lease? The Folsom Auto Mall has some tips on how to avoid that potentially costly expense.
First, you can consider turning your lease in early. You might still have a few months to a year or more left on your lease contract, but you can actually turn it in sooner. There might be an early lease termination fee - but it may be lower than the cost of your mileage overage. Plus, if you’d consider getting your new vehicle from the same dealership, they might just waive any termination fees. Additionally, many dealerships in the Folsom Auto Mall will work to get you into a new lease for an even lower monthly payment.
Another option would be to buy out your lease. Your lease contract should explain your buyout options; typically the buyout price is agreed upon at the time of the contract signing. If you like your vehicle and want to keep it, this is a great option. The lease-end purchase price might be a better deal than you thought. Many times you can finance the buyout price just like you would finance any new or used vehicle - or you can buy it outright. Once you buy out your lease, you become the owner of the vehicle and your mileage overage will no longer matter (neither will any dents or obvious wear).
Some manufacturers and leasing companies have mileage forgiveness programs that provide certain allowances for overages. Contact a Folsom Auto Mall dealership to find out more about those options.
And, finally, you can negotiate. If your vehicle is in great condition, it might be worth more to a dealership as a used vehicle. And if you’re planning to get yourself a new vehicle from the same dealership, you might do better than you expect.
These are just some options worth considering if you’re worried about going over the mileage limit on your lease. Talk to the experts at the Folsom Auto Mall for additional options or specials that make it smart to get out of your lease now!
First, you can consider turning your lease in early. You might still have a few months to a year or more left on your lease contract, but you can actually turn it in sooner. There might be an early lease termination fee - but it may be lower than the cost of your mileage overage. Plus, if you’d consider getting your new vehicle from the same dealership, they might just waive any termination fees. Additionally, many dealerships in the Folsom Auto Mall will work to get you into a new lease for an even lower monthly payment.
Another option would be to buy out your lease. Your lease contract should explain your buyout options; typically the buyout price is agreed upon at the time of the contract signing. If you like your vehicle and want to keep it, this is a great option. The lease-end purchase price might be a better deal than you thought. Many times you can finance the buyout price just like you would finance any new or used vehicle - or you can buy it outright. Once you buy out your lease, you become the owner of the vehicle and your mileage overage will no longer matter (neither will any dents or obvious wear).
Some manufacturers and leasing companies have mileage forgiveness programs that provide certain allowances for overages. Contact a Folsom Auto Mall dealership to find out more about those options.
And, finally, you can negotiate. If your vehicle is in great condition, it might be worth more to a dealership as a used vehicle. And if you’re planning to get yourself a new vehicle from the same dealership, you might do better than you expect.
These are just some options worth considering if you’re worried about going over the mileage limit on your lease. Talk to the experts at the Folsom Auto Mall for additional options or specials that make it smart to get out of your lease now!