Mercedes‑Benz of Novi general sales manager Michael Dega said trading in a leased vehicle can be cheaper than paying large mileage overage fees, illustrating the point with a customer case.
In a video, Dega reviewed a customer who was 22,157 miles over the lease, which equated to about $5,539 in penalties; the vehicle's trade value was $18,000 versus a $20,082 lease payoff, leaving the driver $2,082 upside down but still better off than the mileage fees.
Capital One explains mileage limits protect residual value because excess miles increase depreciation, and per‑mile overage charges typically run $0.15 to $0.30; most leases cap at 12,000 or 15,000 miles per year, while NerdWallet notes some brands like Ford offer up to 19,500.
Commenters on the video were split, with some endorsing the trade‑in approach and others criticizing leasing or questioning the driver's mileage choices.
This report is based on information originally published by Motor1.
Read the full article at Motor1.
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