What's the process of leasing a car?

What Is the Process of Leasing a Car?

• Answer:

  The process of leasing a car involves bargaining a leasing price with the car dealer and signing an agreement with an automotive company, bank or credit union. Negotiating Lease A person looking to lease a vehicle enters a car dealership and converses with a car salesperson. Then the dealer discusses any deals or plans offered to the consumer. Reach an agreement, and the negotiation is complete. Length of Lease A consumer may choose a one-year, two-year or three-year lease. The monthly lease payment is smaller for longer-term leases. Signing Leasing Contract Once the consumer and the dealer reach an agreement, the consumer signs a contract with a leasing company. The leasing company is the automotive company of the make of the vehicle, a bank or credit union. Cost of Leasing The monthly payment for a lease is usually less expensive than a bought vehicle. The length of the lease also determines the monthly payment. Options After Lease A consumer can return the vehicle or purchase the leased vehicle after the lease ends.