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What if we exceed the kilometers in the LOA (leasing) contract?

nicad 02/09/2021 997

What if we exceed the kilometers in the LOA (leasing) contract?

The consequences of exceeding the mileage in LOA

In a rental contract with an option to purchase, the car must be repaired before the vehicle is returned (optional in the event of redemption) and mileage is limited. You cannot exceed this number.

If your contract lasts 3 years and you are entitled to 15,000 km / year, you thus have a total of 45,000 km to drive during the entire duration of your contract. You must therefore not exceed this mileage over the total duration of the contract.

When the lessee exceeds the number of authorized kilometers, it is quite possible that the lessor will ask him to pay additional costs. In general, this amounts to paying an amount for each kilometer exceeded, namely between 5 and 20 centimes.

This amount is normally indicated at the time of signing the lease contract. You will therefore know in advance what the price will be in the event of exceeding the mileage.

Be careful not to exceed the authorized mileage By exceeding the authorized mileage, you will have to pay additional costs. Assuming your contract is 20,000 km / year, you exceed it by 10,000 km and the extra mile costs € 0.20, you are going to have to pay at least € 2,000 at the end of the contract if you return the car. .

Increase the number of authorized kilometers of your leased car

If you wish to increase the number of authorized kilometers, you have the possibility to ask the lessor (the credit organization ) to adjust the maximum mileage without terminating the contract.

If the lessor accepts, it will be necessary to recalculate the amount of rent to be paid if your monthly budget allows it and to modify the current contract by paying '' an amendment for example.If the lessor does not accept, you will have to pay the additional costs related to the excess mileage in addition to the monthly rents, at the end of the contract.

It is possible to determine in advance whether you will exceed the authorized number of kilometers, so you have other possibilities s available to you:

Buy back the car

You can exercise the purchase option by purchasing your vehicle at the end of the contract and thus not pay the costs of additional kilometers traveled.

Transfer the leasing contract

If you transfer the LOA to someone who is not going to drive a lot, it will balance the mileage done and not pay the overtaking fee.

Resell your car before the end of the LOA contract

If you do not have the financial capacity to assume the car for the entire duration of the contract, or if the kilometer overrun is too important, the resale of the vehicle may be a good option . You will avoid the sometimes heavy overtaking costs. Are you about to resell your vehicle and are looking for a new one? View our used car catalog.

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