Am I likely to exceed my lease mileage and how much will that cost me?
Find how if you are likely to drive more miles than your lease allows and how much you will have to pay for the excess miles when the lease ends. Enter the annual miles allowed, the charge for excess miles as stated in your lease, and car’s current odometer reading and this calculator will project excess miles and anticipated charges at lease end. You can also see how to adjust your driving for the remainder of the lease to avoid going over the allowed miles and paying a mileage charge.
Title: A title for these calculator results that will help you identify it if you have printed out several versions of the calculator.
Lease Start Date: The date your auto lease went into effect.
Length of Lease: Also known as lease term. How long you plan to keep the leased vehicle. Also choose whether ‘Length of Lease’ is years or months.
Annual Miles Alloweds: The average miles you can drive your leased car each year without paying excess mileage charges at the end of the lease. Typical values are 10,000, 12,000 or 15,000 miles and you should be able to find this in your lease agreement.
Excess Miles Charge: The amount, per mile, you will pay at lease end if you have exceeded your allowed miles. Excess mileage charges are typically in the range of $0.10 – $0.25 per mile.
Odometer Reading: Enter what the car’s odometer currently reads.
Odometer Reading Date: The date of the entered ‘Odometer Reading’.
Projected Total Miles: The total miles you are projected to drive by lease end.
Allowed Total Miles: Based on ‘Annual Miles Allowed’ and ‘Length of Lease’, you are allowed to drive this many total miles by the end of the lease.
Projected Excess Miles: Based on your current driving patterns, you are projected to exceed your allowed miles by this many miles.
Projected Lease-end Mileage Charge: You will pay this amount in excess mileage charges at the end of your lease if you exceed your allowed miles by the number shown as ‘Projected Excess Miles’.
Lease End Date: Based on ‘Lease Start Date’ and ‘Length of Lease’ your lease will end on this date.
Allowed Average Miles: You can drive this many miles, on average, per day, month, or year throughout the lease and not go over your allowed total miles.
Actual Average Miles: Based on your current driving patterns, you are driving this many miles, on average, per day, month, or year.
Adjusted Average Miles: If you wish to avoid excess mileage on your leased car, you must adjust your driving to this many miles, on average, per day, month, or year between now and lease end.