• Steep penalties for exceeding mileage limits. • Penalties for excessive wear and tear on the leased vehicle. • Desiring to end a lease early can incur an expensive added cost. Car Leasing Agreements A vehicle lease is a contract between you and the car dealership from which you're leasing. When you sign a vehicle lease, you're agreeing to certain conditions set by the dealership that includes things like: • The terms of the lease. • Number of miles you're allowed to drive per year. • Total number of miles you're allowed to accrue during the term of the lease. • Penalties for exceeding the mileage limits.