Should I lease a car if I drive 20000 miles a year?

If you plan to drive 20,000 miles per year, you want a lease that allows you to do so. Some leases offer less annual mileage, which can result in having to pay additional fees. If you pick a high mileage lease, you can drive as much as you need to without paying additional money. This choice can be more affordable.

Is 30K miles a year a lot?

30K/year is a lot of driving. An Average Amercian drives 12K miles / year, and a usual lease has a mileage limit of 10–15K / year.

What if I go over mileage on lease?

Excess mileage Most leasing companies charge around 15 to 20 cents per mile over the amount allowed in the contract, commonly 12,000 miles per year. If you’re way over the allowed mileage and looking at a big penalty, you still have options. In most cases, the buyout price is close to the current market value price.

Is it bad to drive 30000 miles a year?

Cars don’t need rest and time isn’t kind to them. Continuous driving is the ideal state for the longevity (in terms of miles) of a car. 30,000 miles in one year should be better, not worse, than 30,000 miles spaced out over 2-3 years as would be more typical.

How many miles can you Drive on a car lease?

If you plan to drive 20,000 miles per year, you want a lease that allows you to do so. Some leases offer less annual mileage, which can result in having to pay additional fees. If you pick a high mileage lease, you can drive as much as you need to without paying additional money. This choice can be more affordable.

Is an extra mileage lease a good idea?

When taking all of these costs into consideration, you can decide if an extra mileage lease is ideal for you. The more miles you put on a car, the lower its value will be. If you put 70,000 miles on your vehicle per year for three years, it would have 210,000 miles on it.

How do dealerships calculate the cost of an extra-miles lease?

When calculating the cost of additional miles, dealerships subtract the extra depreciation from the normal 12,000-mile value, which determines the increased monthly payment. Then, the cost of each extra mile is set by the dealership, but this number typically ranges from $0.10 to $0.25 per mile. How Do You Evaluate an Extra-Miles Lease Deal?

How much value does a leased car have at the end?

If the car is only driven 15,000 or 20,000 miles a year, most cars will still have good value at the end of a typical three year lease — usually about 40\%-50\% of original value. Now, lets, assume an extreme case in which a car is driven 70,000 miles a year.