How do I find the excess mileage charge?
An excess mileage charge will apply if you exceed the agreed mileage covered in your lease contract.
This is to account for the extra depreciation affecting the car's value based on a higher-than-anticipated mileage on your returned vehicle.
You will owe an amount for each mile that you exceed, typically between 3p and 30p per mile. Calculated by subtracting your final mileage, minus original delivery miles, from your total mileage allowance.
You can locate the exact excess mileage charge applicable to your lease on your order documentation and finance contract.
You'll then need to multiply this value by your total exceeded miles to work out your total excess mileage charge.
The excess mileage charge can vary based on a number of factors, so is an important value to understand before you accept your lease contract. It can be avoided by ensuring the annual mileage limit you select at the outset is accurate, or by requesting a mileage amendment (please note: mileage amendments are not guaranteed and are subject to funder terms).
Factors influencing your excess mileage charge include:
- The make and model of your lease car
- Your total term mileage
- Your finance provider
- Whether you have chosen vehicle maintenance
Because of these factors, your excess mileage charge is subject to change until your order is confirmed.
If applicable, any excess mileage charges are payable to your funder at the end of your lease term.
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