FINANCING OPTIONS TUTORIAL

Most standard leases are based on a specified number of miles you can drive, typically 15,000 or fewer per year. You can negotiate a higher mileage limit, but you will normally have an increased monthly payment. Why? Because high mileage causes a vehicle to depreciate more - and depreciation is a key part of your monthly lease payment.

TIP

Mileage matters when you lease - If you exceed the mileage limit set in your lease agreement, you will probably have to pay additional charges when you return the vehicle. Often, you can buy miles up front at a lower cost than paying for excess miles at the end of your lease



Jump to:
1.	Introduction	10.	Length of Financing
2.	Your Financing Options	11.	Leasing Through the Dealership
3.	What You Need to Know About Options	12.	How Mileage Affects a Lease
4.	Financing and Leasing Glossary	13.	Wear, Tear, and Maintenance
5.	Understanding Finance Terms	14.	When a Lease Expires
6.	Understanding Lease Terms	15.	Buy vs. Lease - How to Choose
7.	Payment Options	16.	Buy vs. Lease - An Exercise
8.	At the Dealership	17.	How Lease Payments Differ
9.	Financing Through the Dealership	18.	Exercise Your Options - A Quiz

Mileage and Leasing