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Do I get a refund for staying under my mileage limit?

Unfortunately, you will not be refunded for staying within your mileage limit.

At the beginning of your lease term, you will agree to a mileage limit. The mileage limit you choose will change the cost of your monthly payment as it reflects the expected depreciation on your car.

If you exceed your total annual mileage before the end of your term, you risk being charged for this, to allow the leasing company to recover the additional depreciation caused.

We advise you to be as careful as possible when choosing your annual mileage at the start of your lease to avoid under or overpaying. However, funders will allow you to change your mileage limit once during your term, changing your monthly payments accordingly. So do make use of this if you find your mileage requirements change.

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