High Mileage Car Lease: Everything You Need to Know

Leasing a car with high mileage can be a great option for those who need a reliable vehicle for a short period. High mileage cars, typically defined as those with over 100,000 miles, can be a cost-effective choice.

The average annual mileage for a leased car is around 15,000 miles, but high mileage leases can range from 12,000 to 18,000 miles per year. This is because some drivers may need to use their cars for longer periods or more frequently.

Leasing a high mileage car can be a good option for people who need a car for a short time, such as a few months or a year. It's also a good choice for those who want to drive a newer car but can't afford to buy one outright.

A high mileage car lease is a type of car lease that allows you to drive a brand new car at a much cheaper cost than a low mileage lease.

You get all the same benefits as a low mileage lease, so you don't lose out on anything. This means you still get to enjoy the latest features and models without breaking the bank.

One of the biggest advantages of a high mileage car lease is that you don't have to sell the car afterwards. This means you can take the best cars out there without worrying about selling them as a devalued asset when you're done.

The finance company is responsible for dealing with the car after your lease ends, so you can simply return it without any hassle.

You don't have to worry about expensive MOTs if you switch out your car every couple of years, which can save you a significant amount of money.

Here are some key benefits of a high mileage car lease:

A high mileage car lease can be a good idea if you put a lot of miles on your vehicle, such as if you have a lengthy commute or regular business trips. If you're an avid road tripper, it may also be a great option.

The average American driver only covers about 13,500 miles per year, so if you have a regular commute and a few average road trips a year, it's unlikely that you'll exceed the mileage of a standard lease.

However, if you drive a lot for work or have a fleet of vehicles, a high mileage car lease might be a good fit. Some scenarios where this could be the case include:

A high-mileage lease is a good idea for drivers who put a lot of miles on their vehicle, such as those with lengthy commutes or regular business trips. If you're an avid road tripper, this type of lease can be a great option.

The average American driver only covers about 13,500 miles per year, so if you're thinking about a high-mileage lease because you're worried about going over the limit, it's unlikely that you'll exceed the mileage of a standard lease.

Some scenarios where a high-mileage lease might be a good fit include:

Drivers who intend to spend a lot of time behind the wheel may think that leasing is the way to go, believing that it is better to put that heavy mileage on a vehicle that they will be turning in and soon won't have to worry about.

A high-mileage lease might not be the best fit for everyone. These leases aren't available for all fleets or vehicles.

If you're not going to drive enough to exceed the normal mileage allowances, a high-mileage lease is probably unnecessary. You can pay the mileage overage fee, which is usually less than the cost of high-mileage leasing.

High-mileage leasing comes with higher monthly payments, which can impact your profits and growth. This can be a significant burden for some businesses.

If you can't afford the higher monthly payments, a high-mileage lease might not be the way to go. You'll be better off exploring other options, such as purchasing a vehicle outright or buying out an existing lease.

Here are some scenarios where a high-mileage lease might not be ideal:

In these cases, it's better to consider alternative options, such as purchasing a vehicle or buying out an existing lease.

High mileage car leases work similarly to standard leases, but with a higher annual mileage allotment.

A standard 3-year lease typically has a 10,000-mile limit, but a high-mileage lease might allow 15,000 miles each year.

You'll pay extra if you go over your mileage limit, but with a high-mileage lease, you get more room to work with, up to a total of 45,000 miles over three years.

An unlimited mileage car lease is a rare option that's different from high mileage leases.

Most providers don't offer unlimited mileage car leasing, so you'll need to do your research.

They're often available for used/second-hand vehicles, which can be an expensive option.

If budget isn't a concern, it won't matter much to you, but for most people, budget is a concern.

You'll pay almost the full market value of the car without getting a new one at the end of the contract.

Buying a new car is generally a better option when it comes to unlimited mileage, as it offers more flexibility.

High-mileage leases work similarly to standard leases, with a higher annual mileage allotment. They're designed for drivers who need to put a lot of miles on their car.

A standard 3-year lease typically has a 10,000-mile limit, totaling 30,000 miles. This means you'll pay extra if you exceed this limit.

High-mileage leases, on the other hand, offer a higher mileage amount, such as 15,000 miles per year, totaling 45,000 miles over three years. This gives you more flexibility to drive as much as you need.

If you go over your mileage limit, you'll pay extra in both standard and high-mileage leases.

High mileage car leases offer several benefits, including higher annual mileage limits, allowing you to drive more without worrying about extra fees. This flexibility is a major advantage for those who need to travel frequently.

You may be able to avoid extra mileage fees at the end of the lease, which can save you money. Additionally, you get all the same benefits as a low mileage lease, so you don't lose out on any perks.

Here are some of the key pros of high mileage car leases:

While high mileage car leases may cost more upfront, you get to drive a brand new car at a cheaper cost. You're also protected from devaluation over time, which can save you money in the long run.

High mileage car leases offer several benefits, including higher annual mileage limits. This means you can drive more without worrying about extra fees.

You may be able to avoid extra mileage fees at the end of the lease, which can save you money. With a high mileage lease, you also get additional flexibility, allowing you to travel more freely.

A high mileage lease allows you to drive a brand new car at a much cheaper cost. This is because you're not locked into a low mileage deal, which can be more expensive in the long run.

You're protected from devaluation over time, which means your car's value won't decrease as quickly. This is especially useful if you travel a lot or need to drive long distances regularly.

You won't have to worry about expensive MOTs if you're switching out your car every couple of years. This can save you money on maintenance and repairs.

Here are some key benefits of high mileage car leases:

If you like the idea of driving a new model every two or three years, a lease is likely your best option.

Standard leases come with annual mileage limits, and if you go over the limit, it can cost a pretty penny in additional fees.

Buying is probably best if you simply can't get past the feeling that you don't own the vehicle you are driving.

If you intend to spend a lot of time behind the wheel, you might think leasing is the way to go, but it's essential to consider the mileage limits.

Buying out your lease is a third option that could be a good fit if you exceed the mileage limitation.

If you opt for a standard lease and exceed the mileage limitation, you can purchase the vehicle after the lease term to avoid any extra mileage charges.

The overall cost of the vehicle and extra mileage can impact depreciation, so it's worth considering the numbers before making a decision.