How to Get a Closed-End Car Lease
Leasing a car is actually a long-term car rental. It's an affordable way to be able to drive a brand new auto. Leasing payments can be up to 60 percent less than normal car payments. Down payments on leased cars are also less than if you would buy a car. Use these tips to learn how to get a closed-end car lease.
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Instructions
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Visit one or more car dealerships to find the car you want to lease. If you're not sure what type of car you want, visit Autobytel.com on the Internet. You'll find out which are the ten most popular cars and trucks, which vehicles get the best mileage, which are the least and most expensive, etc.
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Decide on one or more cars you're interested in leasing. Check out their values from the Kelley Blue Book.
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Agree on a firm selling price for the exact car you want before you do anything else. The selling price will determine several aspects of your lease agreement such as the amount of the monthly payments.
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Request a "closed-end" car lease and negotiate the details of your car lease. This type of lease basically allows you to return the car after the lease ends. You'll have to pay charges like "excessive mileage" or "wear-and-tear," if applicable. Once you've fulfilled your lease, you're free from it.
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Get all of the details of the closed-end car lease in writing before you sign on the dotted line. Read the contract thoroughly and ask questions about any parts you're not sure about.
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Get copies of the lease agreement and all other documents you have signed. Then, drive away in your new auto.
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Tips & Warnings
To get the best value for your dollars, pick a new car that will retain its value.
Knowledge is power! The more you know before you talk to a new car salesperson, the more prepared you'll be to get the best deal.
Negotiate with two or more car dealers about the same model to get the best price available.
Remember, you have three days to cancel the lease agreement. If you change your mind within this time frame, you have the legal right to annul the lease.
While leasing a car is more affordable than buying a new car, you'll probably end up paying more for the car than if you had bought it in the first place.
