MAZDA Leasing 101: What Is a High Mileage Lease?
If you decide to lease a vehicle, there are usually several requirements that limit what exactly you can do, including a mileage limit. However, you can choose to negotiate a high mileage lease if you need the vehicle for work, or simply feel that you’ll be going over the yearly limit throughout your contract. To learn more, read on or visit us at Sansone Mazda today.
Lease vs. Purchase
There are many reasons to lease a car instead of purchasing it. While purchasing can be a great idea if you have the budget, a lease will cost you much less over time. However, you won’t own the vehicle when your lease ends, and you’ll be required to either return it to us or complete a lease buyout.
Pros and Cons of a High Mileage Lease
The biggest benefit of a high mileage lease is that you can drive your new Mazda vehicle with extra peace of mind. You won’t have to worry about paying fees for driving too much and can use your car as you please.
However, there are several downsides to consider. Before signing a lease, pay attention to your odometer and see if you’ll really go over the yearly limit. Since high mileage leases usually cost extra, it’s also possible to go underwater on your loan.
How to Get a High Mileage Lease
If you have a long daily commute or know you’ll be putting an abnormal number of miles on your new car, a high mileage lease is a great option to consider. Regular leases have yearly mileage limits since the dealership expects the car to be returned in good condition. This way, they’re able to lease or sell it with less friction from future customers.
High mileage leases allow you to go over this yearly limit without any additional penalty when you return the vehicle. These leases aren’t available in every geographic location and some makes won’t offer them, but it’s worth asking when signing a lease at our Mazda finance center.
Visit Us in Woodbridge, NJ, To Find Your Next MAZDA Vehicle
If you think a high mileage lease is the best option for you, contact our Woodbridge, NJ, Mazda dealership today. Once you’re here, our team of financial experts can help you with every step of the leasing process. Stop by or schedule an appointment to get started!