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Rate of pay.....cheap up to 15k per year.. Posted by Mike Lynch [Email] ![]() ![]() In Reply to: buy-out lease question, Dave, Mon, 19 Sep 2005 12:24:56 Members do not see ads below this line. - Help Keep This Site Online - Signup |
When you establish a lease payment based on an estimated mileage you're establishing a rate of payment to a given end mileage. If you're using the car up faster than that the part you didn't pay up front will come due at the end. To me, leasing a new car isn't about scrimping so I'd say just drive it and be ready to pay the penalty or buy the car for the residual. Usually the higher mileage doesn't affect the actual value vs the residual so much that you can't finance it with little down.
If you're exceeding your 15k per year limit than it would have been 15 cents per mile up front or 20 cents per mail at the end, a neglibigle difference. If you're exceeding your 12 limit you missed an oppurtunity to buy the miles up to 15k for only 5 cents a mile. So if you have any doubts whatsoever about 12k vs 15k mileage allowance, do the 15k it's cheap. But beyond 15k, don't buy 'em upfront, you only save 5 cents per mile and you might not use them up.
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