lease contract mileage

Mileage

Is it possible to reduce or increase the mileage specified in a car lease contract?

It is possible to specify the desired mileage limit at the start of the contract. It is rare to be able to change the conditions of the contract once it has begun.

What if I exceed the agreed mileage on the lease contract?

For car leasing, if you exceed the agreed mileage, you will be charged an excess mileage rate at a rate of pence per mile. Therefore, if you exceed by 1,000 miles in a given year and the pence per mile rate was £0.04, you would have to pay an additional £40.00. If you wish to increase your mileage after you have taken possession of the car, this is usually possible but you must speak with the finance company and make the necessary changes first.

The most common annual mileage limit is 10,000 or 15,000.

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