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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 & Instructor
Personal Financial Planning, University of Missouri-Extension


Last update: Friday, April 21, 2006









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