# keep or return leased vehicle with high miles



## jbird2002jp (Apr 8, 2016)

hey everybody.

I leased a new vehicle in January of 2014 to use (sporadically) for my consulting business and very often for driving as an uber partner.

I've put 100k miles on the vehicle (over double the 45k miles i contracted to lease the vehicle for) and the 3 year lease is up in a few weeks.

i'm turning to the uberpeople community for any suggestions as to what would be the wisest thing to do with the vehicle now (it's in good condition overall).

KBB estimates that the vehicle - mazda6 sport sedan - has an estimated value of around 9k

thanks!


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## crazy916 (Jul 6, 2016)

What is the buy out on the vehicle and how much per mile are the overages?


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## jbird2002jp (Apr 8, 2016)

thanks, crazy916
15 cents per mile, purchase option at lease end is 13K


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## crazy916 (Jul 6, 2016)

jbird2002jp said:


> thanks, crazy916
> 15 cents per mile, purchase option at lease end is 13K


Either way with those numbers you are going to be out money. If you pay for the overage it will be $8,250, while if you pay for the car and can turn around and sell it immediately it would put you at $4,000. You might be able to negotiate a lower buy out since the residual value of the car is lower than buyout, but this can be difficult in some situations. It does not hurt to try the worst they can say is no, which is the same as if you didn't try.


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## jbird2002jp (Apr 8, 2016)

thank you again
your approach sounds like a very good one to me. i'll let you know how things turn out!


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## Adieu (Feb 21, 2016)

This one guy I met a few times at stage lots said that his (Honda) dealership claimed it could waive mileage surcharges if he signed a new lease for the next car when he returned it

Dunno if that's trustworthy and ymmv, but....could always try, say you heard Honda does it for a buddy of yours



jbird2002jp said:


> hey everybody.
> 
> I leased a new vehicle in January of 2014 to use (sporadically) for my consulting business and very often for driving as an uber partner.
> 
> ...


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## jbird2002jp (Apr 8, 2016)

thanks, Adieu. I considered that scenario possibility as well. I may mention it to the dealership.
Thanks again!


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## tradedate (Nov 30, 2015)

Adieu said:


> This one guy I met a few times at stage lots said that his (Honda) dealership claimed it could waive mileage surcharges if he signed a new lease for the next car when he returned it
> 
> Dunno if that's trustworthy and ymmv, but....could always try, say you heard Honda does it for a buddy of yours


I wouldn't trust that if it's not in writing. Just think how high employee turnover is at a car dealership.

And they might be rolling the extra mileage cost into the cost of the new lease or loan.


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## Adieu (Feb 21, 2016)

tradedate said:


> I wouldn't trust that if it's not in writing. Just think how high employee turnover is at a car dealership.
> 
> And they might be rolling the extra mileage cost into the cost of the new lease or loan.


Oh I KNOW

Just saying it's worth trying to see if OP's dealer might go for it...


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## jbird2002jp (Apr 8, 2016)

thanks everybody, will be meeting dealership people in the next couple of days!


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## occupant (Jul 7, 2015)

If it is a 2014 Mazda6 sedan, current body style, there is no reason you can't sell it yourself for a lot more than book trade value. If I could've purchased a '14 Mazda6 for $9000 with a hundred thousand miles I sure as sunshine wouldn't currently be running around in a 2010 Malibu 2LT V6 with 70,000 for $9400.

Search your local CL. See what similar 6's are fetching. Put up an ad. Even if you sell it for 10,000 it's way better than either other option mentioned.


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## Mars Troll Number 4 (Oct 30, 2015)

Returning a car with 45K over the lease is going to cost you a royal pretty penny,

It could be as high as .25c per mile to go over. Returning it could cost you as much as 11,250. At that point, if it's close to 10,000 in fees to go over mileage, your probobly going to be better off buying it.


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## LAuberX (Jun 3, 2014)

MUCH cheaper to buy the car now that you have racked up more miles than lease allows (why you don't do a "regular" lease for Uber)

I think a 2014 with 100k should still be worth $11,500-$12,000 retail, but you know the cars history, why not just buy it and keep it until the wheels fall off?


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