Lease Mileage Calculator

Created by Bogna Szyk
Reviewed by Małgorzata Koperska, MD and Steven Wooding
Last updated: Jun 05, 2023

This lease mileage calculator estimates the penalty you'll pay for exceeding the mileage on your lease. With its help, you will be able to establish how many miles on a lease you have left and forecast the total fee.

Read on to learn more about our lease mileage tracker, or take a look at the car depreciation calculator!

💡 To learn more about the world of leasing, check out our lease calculator.

What is the lease mileage overage?

The lease mileage overage is the number of miles by which you exceeded your allowance. For example, if your car lease allowed you to drive 10,000 miles a year, and you ended up driving 11,000 miles, the overage is:

11,000 - 10,000 = 1,000 miles

To learn more about car leases visit our car lease calculator.

How to use the lease mileage tracker?

If you want to calculate the overage with our lease mileage calculator, input the following values:

  • Total lease term (T): the time of the lease – for example, 24 months.

  • Remaining lease time (t): when your lease will end - for example, in 6 months.

  • Current miles driven (s): how many miles you have driven with this car until now – for example, 15,000 miles.

  • Annual mileage allowance (A): how many miles on a lease you can drive without incurring additional fees. It could be equal to 8,000 miles.

  • Excess distance fee: the charge per mile of excess mileage. Our lease mileage overage calculator will use it to determine your penalty. A typical cost is 20 cents on a mile.

Once you have provided all of these values, our lease mileage calculator will automatically find:

  • Predicted excess miles: number of miles over the allowance you will have driven by the end of the lease. We calculate this value according to the formula:

    excess miles = s + [s × t / (T - t)] - (A × T / 12)

    For example, for T = 24 months, t = 6 months, s = 15,000 miles and A = 8,000 miles:

    excess miles = 15000 + [15000 × 6 / (24 - 6)] - (8000 × 24 / 12)

    excess miles = 4000

  • Predicted lease-end charge: the excess miles multiplied by the fee per mile.

    For 4,000 excess miles at the cost of 20 cents per mile:

    charge = $0.20 × 4000 = $800

  • Monthly savings required: amount you need to save each month from now until the end of the lease to afford the penalty. You can include this value in your budget calculation.

    For the charge of $800, you need to be saving $800 / 6 = $133.33 every month for the remaining 6 months.

Bogna Szyk
Total lease term
Remaining lease time
Current miles driven
Annual mileage allowance
Excess distance fee
Predicted excess miles
Predicted lease-end charge
Monthly savings required
Check out 50 similar debt management calculators 💳
10/1 ARM28/36 RuleAmortization… 47 more
People also viewed…

Defensive interval ratio

Our defensive interval ratio calculator will help you assess the liquidity of a company.

Humans vs vampires

Vampire apocalypse calculator shows what would happen if vampires were among us using the predator - prey model.

Korean age

If you're wondering what would your age be from a Korean perspective, use this Korean age calculator to find out.

Optimal hedge ratio

Our optimal hedge ratio calculator helps you to calculate the hedge ratio that will optimize your portfolio returns.
Copyright by Omni Calculator sp. z o.o.
Privacy, Cookies & Terms of Service