Auto lease end question

Question

my lease is for 5 years(leased in may 2007), at least i thinnk it is. The contract says the lease ends may 2012 OR when i reach 60,000 miles. Does that mean my lease ends when i hit 60,000 miles even before 5 years?

Answer 1

No. Reread your lease. It says your lease expires 05/2012 and you are ALLOWED 60,000 miles.  If you exceed your  mileage you must pay excess mileage fees if you turn it in.

Answer 2

No

if it was a warranty this might be the case

your lease ends after 5 years.

you might have some mileage limit or if you go over 60K you will be charged more money.

check your lease.

Answer 3

No. Your lease term is exactly 5 years. You are allowed 60,000 miles during those 5 years. If you don't exceed the 60,000 miles, you can simply return the car. If you do exceed the mileage, you will pay a per-mile fee specified in your lease contract when you return your car -- or you can choose to purchase the vehicle and avoid the fee. Here's an article with more details:

http://www.leaseguide.com/lease15.htm

Good luck.