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Does anyone here know what the standard overage rate per mile for Mazda American Credit leases? I moved and now I cannot locate my lease paperwork to check. I am going to be over my allotted miles of 24K when I turn my Speed6 in next year. :irate:
 

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Its probably around $.30/mile. MY dad was WAAAY overmilage on his rav4 and ended up buying it(cheapest option) I think he would have had to pay $.36/mile otherwise.
 

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Thanks. But can someone pull out their paperwork and see what mileage rate. I am pretty sure it is a standard part of their lease contract.

I figure I'll be at least 3,000 miles over.
 

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Mileage rates vary by term and by dealer-it is a range that MAC allows the dealer to specify. You might try going to the Mazdausa site and signing up in the owners section-it might contain a link to review yur terms (I started with MAC financing then refi"d with a bank so I can't check it). I think they post it but not sure.
 

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Nope. Not on there. I'll have to call my dealer I guess.
 

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Can someone explain to me why you would lease a vehicle? I don't mean this to be rude or sound like I care 1 way or another. I just want to know the difference or the reason behind lease vs buy. Most people usually "buy" the vehicle... get a monthly rate of 250-450 on average.. and end up selling the thing before they finish payments.

Is a lease easier to get into? Is it cheaper? Is it just easier to lease and always have something new.. than to buy and worry about selling? What are the ups and downs of it?
 

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Ive never leased a vehicle but this is how I look at it. When you lease a vehicle a lot of times you dont have to put a down payment down or not a big one. Your monthly payments will be less expensive but your not getting any equity. Its really for the people that change cars alot or dont want to worry about resalve value
 

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Nope. Not on there. I'll have to call my dealer I guess.[/b]
why not just call MAC?...that way they can pull up your exact lease...I'd be more comfortable with their answer than the dealer telling me.
 

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Discussion Starter #9
why not just call MAC?...that way they can pull up your exact lease...I'd be more comfortable with their answer than the dealer telling me.[/b]
Yeah, I'll call them this week. I have a feeling that I am gonna be like 8000 miles over....
 

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Does anyone here know what the standard overage rate per mile for Mazda American Credit leases? I moved and now I cannot locate my lease paperwork to check. I am going to be over my allotted miles of 24K when I turn my Speed6 in next year. :irate:[/b]
I'm not sure if these MAC lease deals are the same as what you have, but their over-mileage charges are $.15/mile.

http://www.mazdausa.com/MusaWeb/displayReg...centives.action
 

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i leased mine - will cost me 15 cents a mile if i go over.
 

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Can someone explain to me why you would lease a vehicle? I don't mean this to be rude or sound like I care 1 way or another. I just want to know the difference or the reason behind lease vs buy. Most people usually "buy" the vehicle... get a monthly rate of 250-450 on average.. and end up selling the thing before they finish payments.

Is a lease easier to get into? Is it cheaper? Is it just easier to lease and always have something new.. than to buy and worry about selling? What are the ups and downs of it?[/b]

A lot of people lease because they like the idea of getting a new car every couple of years and don't mind that they are always making a car payment. While others use a lease to get more car than they could afford to own since lease payments are comparatively low.

An important thing to consider is that some cars are better to lease than others. Cars with relatively low resale values (like Mazdas) do not typically make for good lease deals, unless the manufacturer is really looking to unload some cars.

The reason these types of cars are not smart lease deals is that you pay for the depreciated value of the car over the term of the lease.

Something that's often overlooked is that you can negotiate in a lease deal just like you can when buying a car. First thing either way is to settle on the selling price for the car (selling price, not payments), then go from there.

Check out carbuyingtips.com for more information.
 

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Per MIle overage charge are varies due to annual milage, at 12k a year you are at 0.15 for overage, which is not bad at all.

People lease because
low monthly payment
always under warranty/driving a new car
tax deductable
 

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From what i've been told if u turn your lease in early to the dealer not the company u leased it from, the vehicle will be considered a trade-in and your overage on mileage will not matter. My wife always turns her lease in early and comes close if not over the allotted mileage but we continue to lease another car from them. The last salesman tried getting us to lease a 27 month lease w/ 10,500 a year to make our payments cheaper but we decided to hang onto our current vehicle.
 

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Ive never leased a vehicle but this is how I look at it. When you lease a vehicle a lot of times you dont have to put a down payment down or not a big one. Your monthly payments will be less expensive but your not getting any equity. Its really for the people that change cars alot or dont want to worry about resalve value
Here is one reason why. I leased a Mazda 6 and have 12 months remaining on my lease. While still a year out, I went to get a trade in value and was quoted $12-13,000. The payoff at the end of the lease is going to be $17,000 by which point the trade value will have decreased as well. At lease end, why would I pay $17K for a car that they would only pay me 9-10K for? With a lease, I get to hand it back to them and let them eat that difference.
 
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