Nissan will allow lessees who are approaching their mileage limit to avoid overage penalties
January 25, 2023 at 20:36
by Sebastien Bell
Following a limited launch in October 2022, Nissan is now expanding the SignatureFLEX lease program to the rest of its lineup in 2023. The product offers lessees the ability to buy more miles for their lease in order to avoid paying overage penalties.
Nissan Motor Acceptance Company (NMAC) said today that the service allows customers to easily add miles to their lease term if, say, they find themselves approaching their mileage limit. The automaker was inspired to offer the program after it found that customers were turning to lower mileage contracts.
“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.”
More: Nissan Introduces New 5,000-Mile-A-Year, Pay-As-You-Go Lease Option
Nissan says that, whereas the majority of customers previously chose a 12,000-mile (19,312 km) mileage limit, the 10,000-mile (16,093 km) option is now the most popular one. To respond to those shrinking requirements, the automaker introduced a 5,000-mile (8,046 km) term that was, in October, the only one on which SignatureFLEX was available. Now, however, the product is available regardless of how many miles a customer chooses to sign up for.
Initially available only on the Nissan Rogue, the Rogue Sport, and the Pathfinder, the SignatureFLEX lease program will also now be available across its entire fleet, including the all-electric Ariya and the brand-new Nissan Z.
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Ultimately, the proposed advantage of SignatureFlex is that it allows lessees to add more miles to their contract at a lower price than the overage penalties, which generally cost about $0.25 per mile. Nissan will send out automatic, personalized notifications to customers who are approaching their lease limit through their infotainment system. Additional miles will be purchasable through the NMAC website or Nissan’s mobile app.