10 Steps to Leasing a New Car
Car Leasing Checklist
- Design your lease by deciding on the car, the lease term, the down payment and the number of miles included.
- Estimate your monthly lease payment using this car lease calculator.
- Check to see what special leasing deals are available.
- If you are trading in your old car, check its Edmunds.com True Market Value (TMV®) and print out this information.
- Solicit price quotes from multiple dealers for the best monthly payment on a three-year lease with $1,000 in drive-off fees and 12,000 miles per year included.
- Call Internet managers to negotiate the best lease for the car you want to buy.
- Once you've reached a good price, ask the salesperson to fax you a worksheet showing all the prices, taxes and fees.
- Before you say yes to the deal, use your leverage to ask the Internet manager to deliver the car.
- Make sure the contract includes gap insurance.
- Inspect the car for dents, dings and scratches before taking final delivery.
- As you drive your leased car, make sure you perform all the scheduled maintenance and do not exceed the mileage limit.