Car Lease Buying: How to Get the Best Deal on a Car Lease

A car lease acquisition is the cheapest way to drive a newer vehicle. No down payment is required as it has been paid by the seller. The seller will often offer cash incentives to entice buyers and make a quick sale.

To get the best deal on a car lease acquisition, there are a number of things to consider.

When you lease a vehicle, you pay vehicle depreciation plus sales tax. European and Japanese cars depreciate more slowly than North American vehicles and are therefore usually less expensive to lease.

Check the vehicle manufacturer’s warranty and the length of the lease. Most manufacturers’ warranties last 36 months. Ideally, the lease should not be longer than 36 months. If the lease is longer and the vehicle breaks down after the warranty has expired, you will have to pay the cost of repairs out of pocket.

Make sure the vehicle is in good condition. Take the vehicle for a test drive. Request a copy of the vehicles maintenance records to ensure that the vehicle has been serviced in accordance with warranty requirements. Have a certified mechanic inspect the vehicle. Check the vehicle’s mileage to make sure it is within the allotted lease mileage.

If you drive more than 15,000 miles per year, check the lease for the excess mileage fee. Some leases charge more than 20 cents for every mile driven over 15,000. This could easily turn a seemingly good deal into an expensive decision.