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FAQs
FAQs

FAQs

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What if the vehicle already has mileage on the odometer?

The number of miles on the odometer at the time of loan origination is entered into your customized calculator and the vehicle’s residual value is automatically adjusted for such mileage. Therefore, the borrower receives the full mileage allowance chosen in addition to the existing mileage on the odometer.

Example: A vehicle has 3,000 miles on the odometer at purchase and the borrower selects the 12,000 miles per year option on a four-year loan: 12,000 x 4 = 48,000 + 3,000 = 51,000 total miles allowed at vehicle turn-in without excess mileage charges being imposed.

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