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Why do I need to state my mileage when leasing a vehicle?

For business car leasing or private car leasing, its standard practice for a lease provider to ask you to state your estimated annual mileage. Mileage will have an impact on the resale and lease value of your car once your contract comes to an end, and will help determine the subsequent monthly lease value. It’s important to be accurate and truthful in your mileage estimations, as if you cover more than previously stated, you may have to pay an excess mileage charge.