There is not an insurance contract that I know of that would cover you going over your miles on your lease contract. A standard lease contract has prepaid miles and excess miles. Prepaid miles are much cheaper than excess mile fees. Remember to project your miles going into the contract and keep track of your miles during your contract.

Understand what the charges will be if you go over the mileage requirements and if there are opportunities (should you need them) to prepay for additional miles at the signing of the lease agreement. These prepaid miles will almost certainly be lower than what you would pay for excess mileage at the end.

I personally leased a vehicle a few years ago and I bought an additional 6000 miles on the contract. The cost was $.09 if pre-paid and $.15 if charged after the fact.

With some leasing companies, such as BMW Financial Services, allow you to buy additional miles at signing, for up to a 20 percent savings. These financial companies usually have a mileage calculator so you can estimate the number of additional miles you will need and let you see how much you will save by purchasing them now.

Additional miles can be purchased in one lump sum payment, or the total cost may be spread out over the remaining monthly payments in many cases. With this BMW program we have read that this service is available to you until you reach 4 months from the end of your lease.

Check with your leasing company to find out if you can buy additional miles during the term of the lease or if they had to be bought up front at signing.

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