While buying certainly has its merits, many people would rather lease a vehicle. This offers a lot of flexibility, as you don’t have to be tied to just one car for very long. It is also often a less expensive option. If you’re thinking about a Toyota lease, it is important to remember that since you don’t own the vehicle, there are restrictions, including the number of miles you can drive.
What are the Mileage Restrictions with a Lease?
The lease agreement stipulates the mileage limit for the year. Typically, this is between 10,000 and 15,000 miles. This is why before you sign, you need to be sure that the number in your lease works for you. There can be some wiggle room with the mileage, so don’t be afraid to negotiate.
What Happens if You Go Over the Limit?
This is something else you should be aware of before making a decision. For every mile you go over, you will be charged, perhaps as much as 30 cents. While that may not sound like much, it will quickly add up. You’ll be on the hook for an extra $150, for example, if you’re over by 500 miles.
Can I Get a Higher Mileage Lease?
If the mileage in a regular lease won’t work for you, you may be able to get a high-mileage lease. This might be as high as 20,000 miles. As you might expect, however, this type of lease is more expensive.
Find the Right Car with the Right Lease at Centennial Toyota
If you’re not sure which lease will work for you, we can help. Come down to Centennial Toyota near Henderson to learn about your options.
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