Lease Overage Cost Calculator

Among US lenders that publish a rate, the charge runs $0.15 to $0.30 per mile: Toyota Financial Services typically $0.15, Hyundai and Kia $0.20, Tesla $0.25 and Rivian $0.30. The Federal Reserve describes the range as 10 cents to 25 cents per mile or more, with the higher charges often on more-expensive vehicles. At $0.25 per mile, going 5,000 miles over costs $1,250 at lease return.

The per-mile rate is fixed in your lease, so the best time to negotiate is at signing: the Federal Reserve notes you can negotiate a higher mileage limit, and that this often costs less than paying for excess miles at the end. At turn-in, a few lenders publish loyalty terms. Acura Financial Services waives one-half of excess miles, up to 7,500, if you lease or buy a new Acura through it. Others limit theirs: Nissan's waiver may only be used toward excess wear and use.

Where a lender sells extra miles during the term, they are usually cheaper per mile than the end-of-lease charge. Nissan, for example, publishes $0.10 per mile for SignatureFLEX miles bought during the term, against $0.15 or $0.25 at lease end. Not every lender offers it: Stellantis Financial Services says you cannot buy them after the initial lease signing. Only buy miles you expect to use. Nissan states mileage purchases are non-refundable, and the Federal Reserve notes you get no refund for unused miles unless your lease says so.

Your lender bills the excess miles multiplied by the per-mile rate in your lease, usually on a lease-end invoice a few weeks after return (GM Financial says up to 30 to 45 days, Volkswagen Financial Services about four to six weeks). If you buy the car at lease end instead, lenders including Ford Credit and Rivian state that no excess mileage charge applies.