• Caught in the Car Leasing Trap
• More advice about the Family Car

I have been leasing cars for years and I want out. Every couple of years, I lease a new car, usually a year before the lease is up, not because I like to drive a new car, but because I always go over the allotted mileage. If I wait until the lease period is up, I estimate that I have to pay at least $2000 in excess mileage. Instead, I use that money as a down payment for yet another new lease car. What would happen if I buy the car at the end of the lease period, would I only be responsible for the residual value, or do I still have to pay the excess mileage fee? Does anyone have any experience with negotiating down residual value, ie. purchase fee? Could I also buy, instead of leasing, before the lease of my old lease is up? I am just looking for ways to get out of the lease trap and obtaining a pink slip, instead of never having anything to call mine. Any ideas, even if they sound farfetched, are greatly appreciated. Jannette