Car Leasing Tips

What you need to know

Leasing a vehicle is similar in process to purchasing - you need to research your choices and go into the experience prepared. The last thing you want is to end up stuck in an inflexible or unsatisfying lease agreement, especially knowing it can be difficult and expensive to break.

Know the Facts

Before you commit to a lease agreement, you should ask:

• What are your rights? Find out what kind of maintenance assistance the dealership will offer, and who you can go to if you run into difficulties. Does the lease price include things like oil changes, and are you obligated to have maintenance completed at the dealership (which may cost more than your local mechanic)? Thoroughly understand the regulations for breaking or transferring the lease before you sign up.

• What are your responsibilities? Make sure you're fully aware of the type and amount of insurance you need, as well as what kind of maintenance commitment you're making. Do you need to repair any paint scratches or chips before returning the vehicle? Are you responsible for the condition of the windshield? Is there a maintenance schedule you need to follow to avoid additional charges?
• Does the manufacturer's warranty cover the length of the lease? If it doesn't, is there an extended warranty you can purchase?
• What happens in the case of an accident? Discuss with your dealer how the lease agreement will be handled if the vehicle is damaged. Are there provisions for a loaner vehicle while the car is being repaired? Are there any additional fees worked into the agreement should you get in an accident?
• Exactly how much will the lease cost you? Have in writing any upfront costs you're expected to cover, as well as any additional fees or charges that you may incur throughout the lease. Before you sign anything, make sure you agree to any charges being augmented, and comparison shop to make sure you're not getting locked into an unreasonable agreement. Dealers offer different charges for factors such as extra miles or early lease termination.
• How much will it cost to purchase the vehicle? If you think you'll be interested in purchasing the vehicle at the end of the lease, get a price in writing. You don't want to end up with a four-year-old car that you still owe most of the sticker price on!
• What can you expect at the end of the lease agreement? If you don't want to buy the vehicle, can you get a deal on leasing another? What kind of relationship can you expect from your dealer nearing the end of the agreement?

It used to be we could depend on the reputation and reliability of North American cars to meet our standards - but could it be the times are changing? Here in the U.S., overseas models are continuing to rise in popularity. Find out why!

If you love your car, you’ve got treat it right – stock will never do for your hot wheels! Whether it’s for performance or just for the look, aftermarket parts can turn that car you just brought home into your own pimp ride.