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GMAC 10 cents a mile over 15k up to 25k..... Posted by Mike Lynch [Email] ![]() ![]() In Reply to: Anyone do a high mile lease on a 9-3?, BTD, Sat, 5 Aug 2006 20:56:50 Members do not see ads below this line. - Help Keep This Site Online - Signup |
GMAC has got a great program for high miles, much better than SFSC ever did.
Above and beyond the standard 15k residual you can pre-purchase miles up to the 25k per year mark and 75k total for the term, for 10 cents a mile. So for 25k per year vs 15k per year that's 10,000 times 10 cents or $1,000 per year deducted from the residual essentially. So that extra 10k per year costs $83-90ish per month.
Exceeding the mileage restrictions is 15 cents a mile in penalties. So it's 10 cents up front and refundable, or 15 cents at termination if you exceed the total. That is if you only go 30 months into a 36 month 45k lease, but terminate with 44k at the 30 month mark, there's no mileage penalty by itself. You'll just owe the 6 months of payments and no mileage penalty.
The best news is that if you buy $3,000 worth of miles up front, 75k instead of 45k, and you don't use them, and the lease goes to maturity, the unused miles are refundable.
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