|
Leasing requires
a smaller down payment - usually much smaller - than buying
a car. Therefore, you can get a nicer car if you lease, but
may have to pay more over time.
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Steps to lease a car |
| 1.
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Shop for and
settle on a car. |
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| 2.
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Discuss lease terms with the sales representative. |
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| 3.
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Ask for a complete
explanation of your liability in case of an accident or total
loss of the vehicle. |
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| 4.
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Check the depreciation
on that model of car. |
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| 5.
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Compare your costs, including the depreciation,
to your costs if you were to simply buy the car and make payments.
|
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| 6.
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If you still
decide to lease, review and sign the lease agreement and write
a check. |
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| 7.
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Get insurance.
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Warnings: |
| |
Your credit
will be reviewed more closely and requirements will be higher
for a lease than for a purchase. |
| |
| |
Total loss of
the car usually works out worse for you than it does for the
car dealership. |
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Lease Your
Dream Car