10 Steps to Leasing a New Car

Welcome,

NAVIGATION

	Introduction
	Step 1: How leasing works.
	Step 2: Checking incentives and special lease deals.
	Step 3: How long should your lease be?
	Step 4: Estimating your lease payments.
	Step 5: Finding the exact car to lease.
	Step 6: Test driving the car salesman
	Step 7: The final test drive.
	Step 8: How to negotiate a lease payment.
	Step 9: Reviewing and signing the paperwork.
	Step 10: Successfully managing your leased vehicle.
	Checklist

PHOTOS

(Enlarge photo)
When you lease, you pay for the amount of the car's value that you use. If a car depreciates by $7,000 during the time you drive it, you play this amount plus interest and fees. (Photo by Scott Jacobs)

Leasing Articles

10 Steps to Leasing a New Car
Dissecting the Deal: How to Spot a Good Lease
Compare the Costs: Buying vs. Leasing vs. Buying a Used Car
Leasing Quiz
Get Out of Your Lease the Cheap and Easy Way

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Leasing Tips

10 Steps to Leasing a New Car

Step 1: How leasing works.
By Philip Reed, Senior Consumer Advice Editor
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Leasing a car is like renting a car — but for a longer time period. Unlike buying, you never actually own the car and you have to give it back at the end of the lease. Leasing became popular in the 1990s because cars became too expensive to buy for many people. Leasing allows a person to drive a brand-new car and make lower monthly payments, thus making the "new-car experience" more accessible to more people. Finally, leasing can offer tax breaks for certain occupations.

In 10 Steps to Finding the Right Car For You we talked about the pros and cons of leasing. It might be a good idea to review those points now. Remember that, while leasing might not save you money in the long run, it could fit more easily into your budget on a monthly basis. Also keep in mind that some people find leasing to be confusing since many of the terms are different. We'll do our best to quickly and clearly explain how to make leasing work for you in the following steps.

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More Leasing Articles

10 Steps to Leasing a New Car
The following steps will tell you how to locate and negotiate a fair lease rate on the car you want.

Dissecting the Deal - How to Spot a Good Lease
It sounds like a great deal — but here's how to read the fine print to see what you'll really pay.

Compare the Costs: Buying vs. Leasing vs. Buying a Used Car
The age-old debate over the merits of leasing versus buying can be argued many different ways. What do the numbers say? Let's take a look at the three most common car-ownership scenarios.

Leasing Quiz
Find out ahead of time if you can see through the double-talk of leasing. Take the Edmunds.com car leasing quiz and see if you're ready to get a great deal on your next leased car.

Get Out of Your Lease the Cheap and Easy Way
Stuck in a car lease? Presto! With online lease-trading sites, you can get out of a lease (or even into one) cheaply and easily.


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