Almost over mileage on lease

[el_tlatoani]

Hi everyone, I’m struggling a bit with my Model S. I got it back in March 2018 under a 2yr/30k mi lease. I’m barely a year and a half in and I only have less than 2000 mi before I reach those 30k mi. Soon I’ll have to start paying $0.25 per mile that I go over.


What other options do I have apart from not driving it for the rest of the lease period?

 

[ucmndd]

What other options do I have apart from not driving it for the rest of the lease period?

Pay 25 cents a mile, it sounds like.

 

[AMPd]

I was 27k miles over my limit

Worth every quarter.

 

[ChadS]

I went way over on my Model S lease.

Given that everything you've already agreed to pay on the lease is a sunk cost, paying 25 cents per mile to drive a Model S after you hit 30k sounds like a pretty good deal.

The more 25-cent miles you put on, the lower your overall cost-per-mile number will be. That's not a good argument for driving just to put miles on; but if they are miles you are going to put on some car anyway, it seems like the Model S is a good place to put them.

 

[Watts_Up]

Can you lift above ground your car at night and engage the reverse gear? Might be worth to try.

 

[sammyfan711]

Can you lift above ground your car at night and engage the reverse gear? Might be worth to try.

Worked out well in Ferris Bueller

 

[MXWing]

If only any of us would be so lucky to own a Tesla for 25 cents a mile!

Put another 10K miles on it and enjoy the car.

 

[Akikiki]

Sell the lease and get out from under it. Start over or buy. I don't remember the site name, but there is at least one business web site that connects lease holders with people wanting to lease a Tesla.

 

[Flyguy]

Sell the lease and get out from under it. Start over or buy. I don't remember the site name, but there is at least one business web site that connects lease holders with people wanting to lease a Tesla.

Nobody’s going to take over a lease that has less than 2000 miles on it.

 

[Dutchie]

That's is common. You drive way more once you go from an ICE to a Tesla

 

[cwerdna]

Hi everyone, I’m struggling a bit with my Model S. I got it back in March 2018 under a 2yr/30k mi lease. I’m barely a year and a half in and I only have less than 2000 mi before I reach those 30k mi...

Nobody’s going to take over a lease that has less than 2000 miles on it.

Not only that, but I'm not sure Tesla will allow transferring the lease at all with 6 months left.

We tried at my work with someone who was possibly going to take over the lease of an S from someone else who no longer had a long commute. They original S lessee had moved to within walking distance of work (previous commute was ~60 miles/day) and had a TON of miles leftover. Unfortunately, Tesla wouldn't allow the transfer. IIRC, it had to have over 1+ year left on the lease.

So, the S lessee was stuck making payments on a car that was barely driven. She turned it in at lease end w/plenty of miles left.

 

[TMSfanatic]

Hi everyone, I’m struggling a bit with my Model S. I got it back in March 2018 under a 2yr/30k mi lease. I’m barely a year and a half in and I only have less than 2000 mi before I reach those 30k mi. Soon I’ll have to start paying $0.25 per mile that I go over.


What other options do I have apart from not driving it for the rest of the lease period?

Your only options are:
1. Stop driving
2. Pay overage
3. Buy out car

 

[alloverx]

I understand you can buy out a lease at any time but I have never done it.

 

[Akikiki]

Nobody’s going to take over a lease that has less than 2000 miles on it.

Nobody? You know this how? You have already completed a survey of "earth"?

 

[cwerdna]

Nobody? You know this how? You have already completed a survey of "earth"?

Let's assume he has 2000 miles left. That means in 6 months (assuming Tesla even allows the lease transfer, which is doubtful since what I cited happened within the past 2 years), the new lessee will only be able to drive ~333 miles/month or about 11 miles/day. And, they'll be paying pretty hefty payments each month.

Who would want that? I suspect the # is very few if not 0.

Sell the lease and get out from under it. Start over or buy. I don't remember the site name, but there is at least one business web site that connects lease holders with people wanting to lease a Tesla.

Worlds Largest Lease Marketplace | Swapalease.com
LeaseTrader.com - Car Lease - Lease Assumption - Short Term Leases

 

[Akikiki]

Let's assume he has 2000 miles left. That means in 6 months (assuming Tesla even allows the lease transfer, which is doubtful since what I cited happened within the past 2 years), the new lessee will only be able to drive ~333 miles/month. And, they'll be paying pretty hefty payments each month.

Who would want that? I suspect the # is very few if not 0.

Worlds Largest Lease Marketplace | Swapalease.com

Probably is 0. He was looking for options when he came here. I'm not on his negotiating team. They will earn their money.

 

[AMPd]

Just drive it and pay the overage, let’s say you go 4K miles over, that’s only a thousand bucks.

 

[rsg123]

Let's assume he has 2000 miles left. That means in 6 months (assuming Tesla even allows the lease transfer, which is doubtful since what I cited happened within the past 2 years), the new lessee will only be able to drive ~333 miles/month or about 11 miles/day. And, they'll be paying pretty hefty payments each month.

Who would want that? I suspect the # is very few if not 0.

Worlds Largest Lease Marketplace | Swapalease.com
LeaseTrader.com - Car Lease - Lease Assumption - Short Term Leases

He will have to put a hefty incentive into the deal. He may get interest from people who have a very short commute and want a nice car to show off. Maybe a weekend car.

 

[JeoTes]

Bringing this back up, can you buy more miles at the beginning of the lease?

 

[rocwel]

Is it possible to contact tesla and ask to up mileage? I'm at 1.5 of 3 years on 10k a year.
I'm six months ahead of where I should be. By June 2024 I should have 20k miles and I'm at 22000 right now I'm January 2024. Getting a bit worried.