What does this tool do?
A lease sets an annual mileage allowance and charges for miles driven beyond it. This calculator prorates the allowance to the months elapsed, estimates the overage charge and projects where your current pace will end up.
The Formula
Prorated allowance = Annual allowance × Months ÷ 12; Charge = (Miles driven − Prorated allowance) × RateFrequently Asked Questions
How is lease mileage prorated?
Most contracts multiply the annual allowance by the fraction of the lease term completed. At 18 months into a 36-month lease, half of the total allowance is available.
Can I avoid the overage charge?
Some lessors allow prepaid miles at a lower rate, or waive the fee if you lease another vehicle. Check the contract before the final inspection.