If your warranty runs out before the lease, you could get stuck holding the bag for costly repairs. Most major manufacturers offer three-year warranties. Leases are based on maximum allowable mileage and charge penalties if you rack up more. If commuting or other trips put 15,000 miles a year on your odometer, be sure you are not getting a lease that allows only 12,000 miles a year. On the other hand, don't take a 15,000 annual mileage allowance if you know you will use only 10,000.
Lower mileage ought to mean lower payments.
Many lease companies are willing to alter the mileage limits-especially if you stay at or below 15,000 miles a year. Don't forget to protect yourself against theft or serious collision loss early in the lease. If your vehicle is stolen or totaled, your insurance will pay just the depreciated market value at that time. Within the first two years, that may well be less than the balance you owe on your lease. So it's a smart idea to buy gap insurance to cover the difference.