I hope this creates a movement by other automakers on leases.
- Jerry Reynolds, The Car Pro
If worry about mileage limits is keeping you from leasing a new vehicle, a new leasing program from Nissan may be for you. It's called SignatureFlex and the program allows you to buy more miles if you're about to exceed your mileage limit. Along with peace of mind, this could help you avoid potential penalties when you hand in the keys.
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Nissan says its new SignatureFlex leasing option is designed to give customers more flexible lease terms. It also reflects changing driving habits. Nissan says leases with 10,000-mile limits now account for the majority of new NMAC originations, compared to 12,000-miles previously. This program allows leasing customers to go with lower mileage limits and simply buy more miles if needed.
"Our data clearly shows that Nissan customers are choosing lower mileage limits for their leases, so we're providing a more convenient, more flexible way for them to manage their needs," said Jim DeTrude, vice president, NMAC Sales & Marketing. "SignatureFLEX allows drivers to pay for only the mileage that they plan to use, while having peace of mind they can conveniently buy more miles if their driving habits change."
You can also purchase the additional miles at any time during the lease through the Nissan Motor Acceptance Company (NMAC) web portal or mobile app. Vehicles with compatible connected car technology will provide automatic, personalized notifications to drivers about their current and projected lease mileage.
The automaker launched the new SignatureFlex lease program on a select models in late 2022. Now the program expands to all the vehicles in the lineup (including the new 2023 Ariya EV) and all lease terms including Nissan's recently introduced ultra-low-mileage, 5,000-mile/36-month term.
Want to learn more? Visit NMAC online.
Photo Credit: Nissan