An auto lease can be a great way to finance a car, and here are some powerful tips to make your experience more enjoyable and save you money.
1) Don't be pressured into signing an auto lease or purchase agreement on your first visit. Shop around and run the numbers. You will be amazed at the money you'll save.
2) Try to find out the invoice price, rebate programs and other dealer incentives of the car you wish to lease well before you sit down to do the paperwork.
3) If you expect to put a lot of miles on your car, find out how much it costs to 'buy' extra miles up front, instead of getting dinged at the end of the lease.
4) Know how much your lease-end charges like disposition and purchase option fees are going to cost.
5) Know what your early termination options are and how much it will cost you.
6) Try not to lease a vehicle for a term longer than the manufacturers warranty. If you go past this term you may end up paying for repairs for a car you don't own.
7) Know what the minimum insurance requirements are and shop around for prices.
8) An auto lease is better for a vehicle that will hold it's value over the term of the agreement. The higher the residual value, the lower the monthly payment.
9) And finally, take good care of your car. When you return it to the lessor, you don't want to pay for repairs caused by your driving or carelessness. If you do need repairs for scratches and dents, fix them yourself before paying the lessor's rates.
