Excess Mileage Penalty/Max Mileage
A
Asha Quinn
Have a space to enter in the excess mileage penalty $ amount, and enter the maximum mileage for the vehicle (ex. 12000 yearly mileage, but if the annual mileage is 15,000 then can we enter in what the mileage charge should be).
A
Asha Quinn
where in DriveCentric would you expect to enter and see this info (on the deal itself, the vehicle record, or tied to the customer/contract)? - in the deal and structure, and pushing to CDK. For the penalty, are you looking for a per-mile overage rate (e.g., $0.25 per mile over) or a flat dollar amount -Per mileage but dependent on model. Some are $0.25 and some are $0.30. This would be for miles over 15,000— and should DriveCentric automatically calculate the total once actual mileage is entered? - Yes. And for the max mileage, should it be defined per year (like 12k/year), as a total over the full term, or both? This one I would need to clarify, but I believe it would be per year. So they would type in 20,000 miles but the charge would be for the 5,000 or 15,000 that is the "max"
Shelby Parker
Thanks for raising this, Asha Quinn — totally get how having max/allowed mileage and an overage penalty built in would make lease scenarios much easier to manage. To make sure we’re thinking about it the right way: where in DriveCentric would you expect to enter and see this info (on the deal itself, the vehicle record, or tied to the customer/contract)? For the penalty, are you looking for a per-mile overage rate (e.g., $0.25 per mile over) or a flat dollar amount — and should DriveCentric automatically calculate the total once actual mileage is entered? And for the max mileage, should it be defined per year (like 12k/year), as a total over the full term, or both?