Since you drive a lot of miles, it is best for you to purchase and get and extended warranty for peace of mind.
〉 Answered on Feb 11th, 2009 by Brenda Ritzman, E-Commerce/BDC Director at Toyota of Chula Vista
Here is how I see it...if you like to always be in a fairly "new" vehicle that is almost always under factory warranty, and a low monthly payment (forever) than leasing is for you. BUT...you know there would be a BUT...if you do drive a lot of miles than you may have to reconsider. Most leases include 12K miles per year, and you can pay more for more miles per year...usually 15K, 18K, or 20K (and of course each is more and more expensive)! There are a few that will do $25K...but it*s very costly and in my opinion defeats the purpose of a lease. Not to mention you will be out of factory warranty (for most vehicles at 36K miles) in a little over a year. So if it breaks you*re paying the high payment and the costs to repair too! I think I*d probably purchase, and would also consider an extended warranty that will cover you longer than the factory warranty (and this can be figured into your payments as well.) Hope this helps!
〉 Answered on Feb 11th, 2009 by Susan Scarola, President and CEO at DCH Auto Group
The average lease will allow the individual 12,000 to 15,000 miles per year. You could negotiate for a higher mileage limit, The cost for the extra miles that you purchase will be factored into the lease cost, which will result in a higher monthly payment. As a general rule of thumb the leasing company will not write a lease for a vehicle that will be returned with more than 100,000 miles at the end of the lease, since this vehicle will have a very low resale value.
The benefits of leasing a vehicle instead of buying is at the end of the term you can simple turn the vehicle back in and not have to worry about trying to sell or trade in a high mileage vehicle.
〉 Answered on Feb 11th, 2009 by Jennifer Streets, Director of Marketing at Swapalease.com