Can you up the mileage on an X lease one year later?

[njxman]

I’ve been leasing an SUV of one sort or another for my wife for the last 10-12 years and she’s always managed the mileage to within 12K miles per year. Last year, when our Mercedes GL450 lease expired, I convinced her to test drive the Model X and she’s been in love with the car ever since. So much so that she literally refuses to ride in any of our other cars. As a result, we’re way past 12,000 miles after our first year.

When I requested the lease from Tesla, I was presented with a 10K, a 12K and a 15K annual mileage option (my lease is thru US Bank BTW). Does anyone know, or has anyone tried to increase the mileage one year into the lease? Is it possible to go back and pay the monthly difference between 12K and 15K mileage for the last 12 months? I’d appreciate any feedback before I call US Bank....

 

[Lloyd]

If they allow it, your payment will go up, and the residual will go down. Also you will pay a penalty for rewriting the lease. If you intend to turn it back in it is likely better just to pay the mileage penalty, or buy the car at the end of the lease.

 

[patrick40363]

I have leased several cars and the option you want to do was never available.

 

[outie]

Drive the hell out of the car and enjoy without worrying about the mileage. Maybe it will even out on 3rd year. Worst case, just pay it off at end of lease.

 

[MrRandyB]

I recall someone saying it was actually cheaper to go with the 10k/year and pay the overages than pay for the 15k/year. If you do the math it may work out for you too. Or you can always buy the car at then end of the lease.

 

[njxman]

Thanks for the responses. If we end up driving 15K/year, we’ll be 9K miles over at $.25/mile which will cost $2,250 in overage fees at the end of the lease. Divided over the 36 month lease, that’s an extra $62.50/month. I have to find the original lease papers in my emails but I don’t think the difference between 12K miles and 15K miles was that significant.

 

[bonaire]

Total cost of ownership when buying can be upwards of nearly $1/mile. So the .25/mile overage is a no-brainer for a lessee.