is the Name of the Game
The Internet offers a quick,
efficient way to request auto lease quotes from multiple dealers. We
recommend clicking on each of the links below to harvest two
or three quotes before setting off to do battle.
Do's and Don'ts of Leasing
- Your Homework. Learn as much as you can about
leasing. Be sure to understand how a lease works and the meaning of the
- Read the Lease Contract - especially the fine
print - BEFORE you sign it. BE SURE to understand your obligations and
liabilities for early termination.
- Make Sure All the Figures Add Up. Calculate
the monthly payment yourself. If it doesn't match with the payment on the
contract, ask questions until you understand why.
- Know the Invoice and MSRP for the vehicle you
- Be Prepared to Go the Distance. Early
termination of any lease is seldom painless and almost always costly. Make
sure that your personal situation will allow you to fulfill all of the
obligations of the contract.
- Pay Too Much for the Car. Ask yourself: would
I be willing to buy this car for the capitalized cost? If the answer is no,
go back to the negotiating table.
- Lease Without Gap Insurance. For just a few
dollars a month, you protect yourself from a big loss in the event of forced
- Lease Without Full Disclosure of the money
factor, residual value, and the capitalized cost. If the dealer is
reluctant, be persistent and state that you will not lease without this
information. After all, you wouldn't take out a loan without knowing the
interest rate, would you?
- Accept an Open-End Lease. Remember, in an
open-end lease the payment is based on an estimated residual value. If the
actual value is less at the end of the lease, you must pay the difference.
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