# Lease Mileage Calculator

You can use this lease mileage calculator to quickly and easily compute the total miles you will have driven in your car by the end of the lease period and the associated cost.

This calculator will help you to determine the likelihood that you will have exceeded the mileage allowance in your lease and, subsequently, calculate any excess mile charges you may encounter. If there is a risk you will exceed your mileage quota, you can try to adjust your driving habits accordingly.

To use the calculator, simply input the terms of the lease and the current reading on the vehicle's odometer, and the lease mileage calculator will generate an estimation of the number of miles you will have driven by the end of your lease and compute the associated cost.

Lease Mileage Calculator

miles per year

per mile

miles

Results
?Days Remaining

## What Is The Excess Mileage Charge?

Vehicle leases typically have a limited mileage clause that specifies how many miles your lease covers before you face excess charges. For example, under the provisions of your lease, you may be permitted to drive 15,000 miles per year. If you exceed this amount, you will face additional charges to cover the depreciation of the car. The number of excess miles is calculated by subtracting the total permitted mileage over the duration of the contract from the actual mileage as recorded on the vehicle's odometer. The mileage charges that are levied differ according to the make, model, and age of the car and can range from around \$0.15 per mile through to \$0.30+ per mile. Vehicles that are sold for a higher retail price will have higher excess mileage charges.

### Example of Calculation

Let's say you have a 36-month car lease that permits you to cover 15,000 miles every year. Once that distance is exceeded, the cost per mile is \$0.15. By the end of the lease, you have driven the vehicle 50,000 miles. As such, the excess mileage charge would be as follows:

= (50,000 ? (15,000 × 3)) × \$0.15

= (50,000 ? 45,000) × \$0.15

= 5,000 × \$0.15 = \$750.

You may also be interested in our free Auto Lease Calculator or Lease Vs. Buy Car Calculator