How to Calculate How Much Mileage Is Left on a Lease

When you lease a car, the lease will include a certain number of miles per year included in the lease. If you exceed the total mileage allowed in the lease, you will have to pay over-mileage charges. The knowledge of how many miles you have remaining on your lease can help you avoid a large over-mileage charge when the lease ends.

Instructions

1

Find the "Federal Consumer Leasing Act Disclosures" form in the paperwork you received when first leasing the car.

2

Write down the following items from the leasing disclosure form: The number of monthly payments is in a box at the top of the form. Total number of payments consist of the first payment plus the number of remaining payments. The annual mileage allowance is near the bottom of the form in the "Excessive Wear and Use" paragraph. Typical mileage allowances are 10,000, 12,000 or 15,000 miles.

3

Multiply the annual mileage allowance times the number of years on the lease contract. If you have an odd number of payments such as 39 or 42, divide the annual mileage allowance by 12 and multiply it by the number of payments. The result is your total lease mileage allowance. For example, if you have a four-year lease allowing 15,000 miles per year, you'd multiply four by 15,000 to get total lease mileage of 60,000. Using the monthly method, 15,000 annual miles divided by 12 is 1,250 miles per month.

4

Subtract the current car mileage from the calculated lease mileage allowance. The result is the remaining miles you have on your lease. For example, if your current odometer reading is 48,500 miles, subtracting this amount from the 60,000 contract miles leaves 11,500 miles left on the lease.