Exceeding the agreed-upon mileage limit stipulated in an Acura lease agreement incurs a per-mile charge. This fee, assessed at the end of the lease term, compensates the lessor for the vehicle’s increased depreciation due to the additional usage. For instance, if a lease contract allows for 36,000 miles over three years (12,000 miles annually) and the vehicle is returned with 37,000 miles, the lessee will be responsible for paying the per-mile overage fee for the excess 1,000 miles.
Understanding the financial implications of exceeding the allotted mileage is crucial for effective lease management. Proactive monitoring of mileage accumulation throughout the lease term allows lessees to make informed decisions, such as purchasing additional mileage mid-lease at a potentially reduced rate or adjusting driving habits. Historically, lessees often underestimated their driving needs, leading to unexpected and often substantial charges at lease termination.
