Car Lease??, never had one, is there such a thing as roll over lease??

Question

I drive a lot,

was told that if I lease and go over the miles , that I can roll over to the new car that I get without paying fo additional mileage, but does that mean I will have less miles on my "new" car that I traded for??

sorry for the dumb question,,,

Answer 1

Leasing isn't really a good option if you drive a lot of miles, but if you can keep it to under 25K miles per year then leasing is a good option. If you go over on miles then you pay a pre-set amount for each mile over. (Can typically be anywhere from $0.10 per mile to $0.25 per mile.) Yes you can roll that into your next lease or purchase. Just make sure you buy enough miles upfront and it won't be a problem.

As for a roll over lease.........I only deal with GMAC leases because I don't like the terms and conditions of outside lease companies. GMAC doesn't offer anything like you are describing, so I don't for sure if there is such a thing as a roll over lease. But personally it sounds kind of made up to me.

Answer 2

I've been leasing for over 20 years and have never heard of such an arrangement. It actually doesn't make sense anyway. It sounds like one of the many stories that salesmen tell customers to make a sale, or lease. By the time the customer's lease ends and he finds out it was all a lie, the salesman has gone elsewhere.

Leasing is designed to be most beneficial for people who drive relatively few miles and would prefer to pay only for the small part of the vehicle's value that they use, rather than buying the entire vehicle.

Answer 3

As far as leasing is concerned, all I know is that you would have to pay for excess mileage and for the residual value of your leased car. So if you are a long-range driver, leasing is not a good option for you. For the trade-in process, it would really depend on the dealership or the financing institution you availed of.

For more info on leasing, you may check these sites:

http://www.carleasingsecrets.com...

http://poddcars.blogspot.com/

http://carmoneylogues.blogspot.com/...

http://cartipsnetwork.blogspot.com/...