4 ms·
I don't think they "charge" your for it at the end of the lease. Leases have a "residual value" which is what they expect the car to be worth at the end of the
by rplst8 9y ago
I don't think they "charge" your for it at the end of the lease.
Leases have a "residual value" which is what they expect the car to be worth at the end of the lease, assuming it was kept in good running condition.
They can charge you for excess mileage, extreme wear and tear, and faulty/lack of maintenance - but all of these have been true for a long time.
My parents have leased several cars and in each case they were over by a few thousand miles. They paid the 10 or 15 cents per mile penalty ($150-300) and washed their hands of the car when they were done. Then the leasing company sent a truck to pick it up.