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Am I limited to a certain number of miles per year when I lease a car?
Yes. Most auto leases limit the number of miles you can
drive per year (often 12,000 to 15,000). You can generally
negotiate a higher number, but you will be paying a higher
monthly fee. If you exceed the number of allowed miles at
the end of you lease, you will have to pay a penalty. Be
sure to understand how the penalty is calculated. Ask
questions!
Brenda Procter, M.S., State Specialist & Instructor, Personal Financial Planning, University of Missouri-Extension
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Last update: Wednesday, August 27, 2008
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