Quick Guide to Leasing a New Car

Edmunds.comEdmunds.com Member, Administrator, Moderator Posts: 10,237
edited April 2017 in Editorial
imageQuick Guide to Leasing a New Car

The experts at Edmunds.com offer these five fast and simple steps to leasing a car.

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Comments

  • christian35christian35 Member Posts: 1
    In simple words, if you lease a vehicle then you basically pay for the portion of the use of that vehicle. When you buy a car , then you will pay for the entire cost of the vehicle, regardless of the actual use. Buying a car can provide a big asset , however, uness you can afford to pay cash for the particular car of your dreams, then you will pay a higher monthly payment then you would on a lease, and in most cases , after the five or six year term of the financing, you can end up with an old car that is only worth a few thousand dollars...
    SHopping can be made easy by using a Auto Broker to do the comparasing or you ,autotrader.com or NewCarSuperstore.Com are the large ones in LA , but there are manny more that are helpful
    Good luck shopping,
    Chris
  • omlyomly Member Posts: 1
    I find leasing an intriguing idea because of the fact that you are only making payments on about half the price of the car, as opposed to the whole thing, as mentioned above, which makes the payments far more affordable in most cases. However, for some reason I feel like a lot of people are discouraged from leasing and for me I cannot see the value of putting that much money (what you paid into it during your lease) into a car and then just returning it at the end of the lease (though it is very nice to have the option in case your situations change) But am I looking at this the wrong way? It seems like everyone keeps saying that leasing is only good for someone who wants a new car every few years - but I don't necessarily, I want affordable payments for a great car that is safe and doesn't come with the hassle of possible mechanical issues that aren't covered by warranty that you WILL find in used vehicles. Is this the wrong way to be looking at a lease? Should I really be trying to buy a vehicle? I can do it but I just really feel that not only is leasing more affordable as far as payments go, but allows for flexibility and allows me to not have to spend all of my money on a car to get a really good car, just about half that....
  • luis35_luis35_ Member Posts: 2
    Ive never leased a car so the following is what i just heard from friends. Staying under the mileage cap even for you average driver is difficult. All my friends that have done this always go over the miles. At times they debate geez i need to go to the store but thats 10 miles round trip. I also heard when you go to turn in the car the dealer will nickle and dime you. Small scratch here i think i see something over there etc etc. I think this is why so many people are turned off. By the time you go to turn the car your kind of stuck with it.
  • dweiner51dweiner51 Member Posts: 0
    I thought the buy-out price was always non-negotiable.
  • david103002david103002 Member Posts: 1
    Here's the reality of car buying as I understand. If you finance a vehicle for 72 months so that you can get the lowest payment possible and then trade it before you pay for it, aren't you really just "renting" the car anyway? As long as you make your payments, you get to drive it. If you think you "own" the car, try not making any payments and see what happens. They come and take your car away! The only time I would buy a car is when I can pay cash. Then you have a depreciating asset that eventually will cost you money not only in repairs but also tie up whatever money you paid for it.
  • blond511blond511 Member Posts: 1
    i bought a nice jaguar and in 2010 then I lost my job and then almost my home. . Now in 2013 I am coming back to "normal" and am interested in leasing a jaguar. I know this is the way to get a nice new car but I am reading up on all the leasing ideas. I am reading everything I can on leasing. I don't want to buy, too expensive, I don't drive much so that mileage limitation would be good. some sites say don't pay anything down. I could get a cheaper car, but my heart is set on another jaguar. any comments would be appreciated.
  • needacar24needacar24 Member Posts: 3
    Hi,

    I am trying to get a new car. I am in love with the new chevrolet Impala. it cost more than i have. I am whiling to either lease it or buy it but i do not have any idea on what would be the best choice.

    it cost, according to www.chevrolet.com, $32,885 and I only have 16.000

    I need help please!
  • shyoumakershyoumaker Member Posts: 1
    Is a bank checking account required for buying or leasing a vehicle?
  • kyfdxkyfdx Moderator Posts: 207,825
    They are a broker.

    Something about the NY area causes shoppers there to think they can't negotiate on their own, I guess.

    Adding a third party usually increases costs to the consumer.

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  • GamesBX2608GamesBX2608 GamesBXMember Posts: 1
    The instructions are very detailed and easy to understand, maybe I will rent one in the near future
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    GAMESBX
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