| Car Lease shopping could be a less intimating | | | | - Do not lease the vehicle for longer than the warranty |
| experience if you know what things to watch for and | | | | period because you'd want to take the full advantage |
| what questions to ask in order to get you the best car | | | | of not paying for maintenance of your lease vehicle. |
| lease deals. Here are some tips for car lease shopping. | | | | - Check for Return Fee in the lease. |
| Before going to the dealer... | | | | - Dealers offer many plans or program such as paint |
| - Be familiar with the options and the model of the car | | | | protection, tire protection, body damages or security |
| lease deals offer. | | | | system like lo-jack or Phantom, etc and claim to |
| - Get quotes from auto insurance company for your | | | | protect the value of your leased car. Some plans do |
| future leased car, so there is no surprise how much | | | | provide good values; it is up to you to decide if they |
| you will be paying for your newly lease vehicle. | | | | suit you. But if the lease contract requires a return fee, |
| - If you have valid auto insurance, ask your insurance | | | | do check with the dealer to see if it covers any of the |
| company if your package covers the future lease car | | | | body damage/dent so you would not have to pay |
| for a temporary period until you get its own insurance. | | | | additional for those plans/services. |
| Dealers won't let you drive the car off the lot if you | | | | - If you decide to purchase additional plans or |
| don't have insurance. | | | | programs, it is advised that you pay them off by |
| - Compare lease prices from multiple dealers of the | | | | including in your down payment. Otherwise, the dealers |
| car you want to lease | | | | will add them to the total lease amount and increase |
| - Shop car leases using sites like to gain better ground | | | | your monthly payment. |
| to negotiate with the dealer. | | | | After leasing the car... |
| - While comparing car lease deals, pay attention to | | | | - Buy GAP insurance. GAP stands for Guaranteed |
| monthly payment, lease length, down payment, mileage | | | | Auto Protection. The cost is relatively low for what it |
| limit and cost per mile after the mileage limit. | | | | covers. It insures you for the difference between your |
| - Normal mileage limit is around 10,000 miles to 12,000 | | | | loan amount on the car and the actual market value of |
| miles per year. You could pay a little more in advance | | | | the car; if you totaled your car in an accident and you |
| to get a higher limit to 15,000 miles per year. | | | | would receive market value of your car which was |
| - Pay attention to what it includes in downpayment: 1st | | | | generally 20-30% lower than the loan of your leased |
| month payment, capitalized cost reduction, acquisition | | | | vehicle. In another word, you lost your newly leased |
| fee, security deposit. | | | | car and you would still be paying your monthly |
| - Know your credit score, good credit score could be | | | | payment until you pay it off. GAP insurance will solve |
| a requirement to qualify some good lease deals. | | | | that problem. |
| While shopping car lease at the dealer... | | | | - Take good care of your car to avoid additional |
| - Ask about warranty: what it covers, how long it lasts. | | | | charges when return the lease vehicle. |
| MINI and BMW offer warranty which covers annual | | | | Good luck on shopping the best car lease deal. |
| maintenance, brakes replacement. | | | | |