Re-negotiate a lease contract

smartin104

Hi.. I am curious about re-negotiating a current lease that i have just signed back in July of 2014 with Dodge or Chrysler Capital (whatever the lease ppl are called). Specifically, because of the miles, the original contract has 12k however due to recently work circumstances I will need to drive my car for work for travel. Will I be able to re-negotiate the contract to increase the mileage per year? And if possible what type of costs or maybe even an estimate of costs will i encounter?

thank you in advance

Mr_Shiftright

You should be able to renegotiate for more miles per year, especially since it's a relatively new lease. What is actually going on here is that you're taking value off the residual value and tacking it onto the monthly payments. Hard to say how much this will be without looking at your particular lease, but probably $25 or $30 bucks a month, something like that.

Of course, if you are planning to buy the car after the lease is up, I wouldn't even bother doing this.