Lease End Fees

mungie3

I'm posting this for information because it would've helped me months ago. Perhaps it will help someone else.
I was looking for the answer to: "Are the over-mileage fees on a lease end taxed?".
The answer is no.

I just turned in a lease on a 2012 G37X. The only fees were $395 for disposition, and $0.25 for every mile over allowance. Neither of these fees were taxed. I was not charged excess wear and use, as my inspection went well. Infiniti also refused to haggle over the buyout price, which was over market value by about $5K.


Happy to answer questions if anyone has any.

Michaell

mungie3 said:

I'm posting this for information because it would've helped me months ago. Perhaps it will help someone else.
I was looking for the answer to: "Are the over-mileage fees on a lease end taxed?".
The answer is no.

I just turned in a lease on a 2012 G37X. The only fees were $395 for disposition, and $0.25 for every mile over allowance. Neither of these fees were taxed. I was not charged excess wear and use, as my inspection went well. Infiniti also refused to haggle over the buyout price, which was over market value by about $5K.


Happy to answer questions if anyone has any.

Thanks for checking in and sharing that valuable information with everyone.

I'm almost certain to be over miles on my current lease .. I'm allowed 45K and I'm already at 33K with 14 months to go. However, I suspect the charges would be waived if I lease another Hyundai...

Most manufacturers aren't negotiating residuals any more; they've got insurance to cover the difference between the residual value and the market value.

kyfdx

@mungie3 Thanks for sharing your experience. We turned in a G37 last fall, and had no issues. The independent inspector did a thorough inspection and noted every little nick and scratch, and assigned a value to them... I think it came up to $220 total, which was all under the limit, so no charges.

I didn't think about it at the time, but same here... no sales tax on the disposition fee.