OVERMILEAGE: WHAT TO DO AFTER YOU COMBUST
But, why am I being subjected to limitations when I am #youngwildandfree?
We feel you. We really really do. Nothing sucks more than having to commit to something where you thought your choice would be the commitment free option. BUT, that being said, there are a couple reasons why leases limit the amount of miles you can put on a car.
Basically, the more you drive a car, the ”older” it is considered, and subsequently, the less it’s worth. It all comes down to that simple fact. It doesn’t matter if you had a car for 15 years or 2. If the car you had for 15 years only has been driven 10,000 miles and a car we had for 2 years has been driven 30,000 miles, then you should probably get a life (in addition to having a car worth more than ours). Therefore, leasing companies will estimate how many miles can be put on a car in order to maintain its lease-end value.
Okay, so what if I don’t really care about your witty hypotheticals and still want to live my life on the edge and exceed my miles?
Then sit back, relax, and get ready to be blessed with some truth, Carvoy style.
You will *obviously* have to pay some extra charges. Contrary to popular belief, however, these aren’t even considered penalties. No one is punishing you, we are all adults here. This is simply you paying for what you used out of the car (its depreciation) – because you used more than you said you were going to use. No harm no foul. These charges can be anywhere from 10 cents per mile to 30 cents per mile, depending on how fancy your car is.
Okay, okay. You made your point. How do I know if I’m over my miles already or not?
Pretty simple – just take the amount of miles on your car (should be displayed on your dashboard) and divide it by the months you’ve already had your car for. That will give you the total amount of miles you’ve driven per month on average. More often than not, your leasing contract will have you signed up for 10,000-12,000 miles per year – meaning that if your monthly miles exceed 800-1000 miles per month, you will automatically spontaneously combust right then and there.
Now, once that’s over, there are a few things you can do moving forward.
Spontaneous combustion is no joke.
Yes it is.
Fine. What can I do if I’m over-mileage?
We’re happy you asked!
- Stop driving your car – carpool, take the bus; do whatever you can to quit it.
- Figure out shorter ways to get to common places you head to
- Rent a car! We love this one, because change is fun and it’ll end up being cheaper to rent a car than pay your overmileage depending on just how over you are.
- Try to trade cars with someone who doesn’t get out much and has a good amount of miles on his car that can use some wasting.
- Save up for doomsday – you know when your lease ends you will have to pay up, so think ahead and save ahead.
- Buy your car at the end of your lease—hey, if you can’t beat ‘em, buy ‘em!
- Head to your local downtown mafia-run body shop and roll back your miles (kidding! This is so illegal it’s not even funny. Actually a felony. Do not try this. We repeat, DO NOT TRY THIS.)
What if I’m under my miles?
Congratulations! You get: absolutely nothing! The leasing company will rarely compensate you for miles you didn’t drive, unless you originally paid for extra miles, in which case they’ll usually refund you. This would also be a good time to think about purchasing your vehicle and then reselling at the end of your lease – you could make a good amount of profit if you don’t have a substantial amount of miles on your car.
All in all,
Don’t go over the amount of miles you said you were going to drive. It’ll definitely save you lots of time, money, and headache in the long run.
Check out our exclusive lease deals here.