A fixed rate per mile allowed for operating a privately-owned vehicle when such use is authorized or approved as advantageous to the Government.
When leasing a vehicle, lease payments will be quoted on the number of miles allowed to be driven. (The primary factor influencing a lease payment is the expected Residual Value at the end of the term.) Customers can elect to purchase mileage up front if they expect to drive more average annual miles than the standard lease allows which adjusts the residual value downward and in turn raises the monthly payment. Generally the leasing company will require customers to pay a per mile penalty at the end of the lease term if the customer's actual driven miles exceeds this mileage allowance.
Stated in contract as the number of miles the vehicle may be driven over the duration of the contract term. Mileage in excess of this amount will be subject to a per-mile charge.
The fixed mileage limit for the lease term. If you exceed this limit, you may have to pay an excess mileage charge.
The number of miles a leased vehicle can be driven over the life of the lease. Mileage allowance is detailed in the lease agreement.
The number of miles that a vehicle may be driven over the course of the lease. Mileage allowance is specified in a lease agreement.
The maximum number of miles a leased vehicle can be driven per year without incurring a penalty Read more
The lessee's estimate of how much mileage he will drive during the lease term. If the lessee underestimates how much he drives, he will face an excess mileage charge at lease end.
The number of miles a leased vehicle can be driven under the terms of a lease without incurring additional charges.
Lease agreements usually establish the average miles per year that the car may be driven during the lease. This is often between 12,000 and 15,000 miles. The lease contract also establishes the amount you'll have to pay for every mile driven over the allowance. This mileage fee is usually 15 cents per mile.
Lease agreements establish a maximum mileage allowance that the car may be driven over the life of the lease. The agreement will also specify the cost per mile or kilometer the car is driven over and above the allowance that is due and payable at the end of the lease term.
The number of miles, specified in a lease, that a car may be driven over the life of the lease.
A deduction of automobile expenses for people using their vehicles for business, charity, moving, medical, or any other allowable reason.
The maximum number of miles a leased vehicle can be driven per year without incurring a penalty. The allowance is stated in the lease contract. An allowance of 12,000 miles annually is typical, though the amount may be negotiable, depending on the lessor. If you think you need additional miles, negotiate them up front. You often can add miles for 10 cents each at the start of a lease, while the penalty for those same miles might be 15 cents each at lease end.