Car Leasing Help| Leasing a New Car

Do you really want to lease a new car? If you do, make sure you know what you are getting into. When you go to the dealership to lease a new car, go loaded with information, because these guys will try to rip you off. Unfortunately, it's the nature of the beast: the beast being car leasing. Use these guidelines to help you spot a good car lease:

1) Research incentives: be on the look-out for factory –subsidized lease deals.
Car manufacturers realize that consumers who lease vehicles from them are
more likely to be repeat customers than those who simply purchase vehicles.
Through their leasing companies, they adjust the residual value and offer
low financing charge. Other auto-manufacturers are also starting to give
incentives on leasing, called leasing subventions. They offer these
subsidies to put slow-selling models on the street, saving you even more
money.

2) Competitive Bidding: Create an environment to get the lowest price. If you
already have an idea in mind of the make, model and trim level of your
desired car, attempt to calculate your own lease payment before you go
shopping to avoid paying through the roof. Check online comparison tools or
use a lease calculator to check your lease payment based on purchase price.
This gives you greater negotiation leverage as you solicit quotes from
various leasing companies.

3) Know all Fees: Make sure you know all the fees involved at the beginning of your lease. You may have to pay fees for licenses, registration and title. Other fees
include acquisition fees, freight fees and local or state taxes. At
lease-end, you may have to pay a disposition fee and charges for extra
mileage and any excess wear. Be aware that some of these fees – like
acquisition and disposition fees – are negotiable.

4)Mileage needs: almost all leases limit the number of miles per
year by imposing typically 10 to 20 cents per excess mile over 15,000 miles
a year. If you are the kind of high-commuter who puts 40,000 miles a year
on his car, then you might end up running thousands of dollars in hefty
penalties at the end of your lease. Be smart and negotiate a higher-mileage
limit or pad you excess miles at the beginning of your lease to avoid
robber tax rates for excess miles.
Negotiate

5)GAP coverage: Definitely include GAP coverage with your car lease. This
covers you in the event of the vehicle getting wrecked, stolen or totaled.
Without GAP insurance, you leave yourself wide open to thousands of dollars
in leased obligations. Check if the GAP coverage is included so you don’t
pay it twice.

This is a start of what you need to know. With this you should be able to inquire about a car lease and know what the sales person is talking about. But there ia some important terminology that I will be posting shortly.