Do you get money back for being under mileage on a lease?

Unfortunately, you won’t be refunded for staying within your mileage limits.

The annual mileage you choose is reflected in the monthly cost of your car, because it affects the expected depreciation. As nice as it would be to get some cash back if you’re under this number, there’s unfortunately no reward at the end of your lease.

You can, however, be charged an excess mileage fee if you go over this limit.

It’s worth crunching some numbers before you lease a car to work out, on average, how far you drive each year so you can pick a number that accurately reflects this as much as possible, to avoid both under- and over-paying.

However, your funder might let you change your mileage limit once during your lease, adjusting your monthly payments accordingly. You can make use of this if you find your mileage requirements change mid-lease.