Definitions for "Excess Mileage"
Keywords:  mileage, msrp, inception, driven, mile
The number of miles driven in excess of a specific number defined in your car lease.
At the end of an agreement the miles covered is over and above the miles originally specified on your quotation and finance agreement.
The Lexus Custom-Tailored Preferred Option Finance Plan contains a mileage limitation to prevent excess mileage from being driven and, therefore, excess depreciation of the vehicle. A set mileage allowance is stipulated in an LFS lease agreement. If this limit is exceeded, the lessee is charged for each mile driven exceeding the allowable mileage, as specified in the lease (e.g., $0.15 per mile). However, if at lease inception you feel you will be driving more than is set forth in the lease, you can add the anticipated excess mileage (at $0.15 per mile) to your lease to be paid as part of your monthly payment.