How much do you get charged for going over mileage?

Understanding Over-Mileage Charges in Vehicle Leases

When leasing a vehicle, it’s crucial to pay attention to the mileage limit specified in the contract. Exceeding this limit can result in over-mileage charges, which can vary significantly depending on the leasing company.

Overage Fees: A Financial Penalty

Over-mileage fees are designed to compensate the leasing company for the additional wear and tear on the vehicle resulting from excessive driving. These fees typically range between 3p and 30p per mile.

Cost Comparison: Higher Mileage Allowance vs. Over-Mileage Fees

When leasing a vehicle, it’s important to consider the cost implications of selecting a higher mileage allowance. While a higher allowance may initially cost more, it can be more economical in the long run if you anticipate driving more miles than the standard allotment.

Staying Within the Mileage Limit: The Economical Choice

For most drivers, staying within the allotted mileage limit is usually the most economical option. Exceeding the limit even by a few hundred miles can result in substantial additional charges.

Negotiating Over-Mileage Fees

In some cases, it may be possible to negotiate over-mileage fees with the leasing company. However, it’s important to approach these negotiations with realistic expectations. Leasing companies typically have strict policies on mileage overages and may be hesitant to grant significant concessions.

Conclusion

Over-mileage charges in vehicle leases can add up quickly. By understanding these fees and carefully managing your driving habits, you can avoid unnecessary expenses and protect your financial interests. Remember to stay within the allotted miles, and if necessary, consider negotiating with the leasing company to minimize the impact of overages.