Dealers will compete just as strongly on lease deals as if you were buying. But low monthly payments alone are not enough to assure that you will be happy with your deal. Your car buying and driving habits, not to mention a dose of personal psychology, all go into the equation. Answering our questionnaire will help you determine if you are a Likely Leaser, a Natural-Born Buyer or somewhere in between. 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.