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post #1 of 3 (permalink) Old 01-03-2011, 12:15 PM Thread Starter
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Increasing mileage limits on a lease post-contract?

I'm almost two weeks into a great lease deal I got into with an S Sport. Paying roughly $185/mo on it with a mileage limit of 10k per year. Yes, it's the minimum, but given my situation it is enough for me to handle for the next 3.5 years. I actually didn't get into pricing schemes with the sales person as far as how much mroe my payments would be had I increased my limits to say 12k or 15k. I was going for the lowest monthly payment possible. Not that it matters, but had I went for a 12k or 15k limit, how significantly would my monthly payments have increased? So far I have heard it would have been a big difference. Also, since I am post-contract, aside from buying additional miles straight up for .15 cents a mile, is there any other way to incorporate extra miles into my current monthly payment? What are my option here?
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post #2 of 3 (permalink) Old 01-03-2011, 12:26 PM
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Re: Increasing mileage limits on a lease post-contract?

Generally, leases are contracts just like car loans...typically they can't be modified after you've signed off. You may want to check the fine print on your lease documents though. In the end, I suspect that if you want to re-do the lease with more miles, you may have to find a way to back out of it (taking advantage of a buyer's remorse law if your state has one maybe?) and sign a new one.


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post #3 of 3 (permalink) Old 03-24-2011, 12:14 AM
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Re: Increasing mileage limits on a lease post-contract?

I dont know anything about leases. My buddy's aunt gets a new car every year. She always leases them and just trades them out like DVDs from Redbox or Blockbuster. You might just have to switch out of the car entirely. However....

...if you love the car, you could always finance out the remaining balance which would probably keep your payments about the same.

Personally, I would buy a cheap motorcycle to balance out the mileage. $500 classic Honda cb750 or something like that...
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