What are my responsibilities when I lease a vehicle?
You may be responsible for:
- Excess mileage charges when you return the vehicle. (Check your lease terms for the exact number of miles you can drive during your term and the cost for excess mileage.)
- Excess wear charges when you return the vehicle. (Ask how that is determined and get it in writing.)
- Possible substantial payments if you end the lease early.
Brenda Procter, M.S., State Specialist &
Personal Financial Planning, University of Missouri-Extension
Last update: Friday, April 21, 2006