Make Sure You Keep Track Of All The Car Lease Deals You're Reviewing
Use this Checklist to record important information while you're shopping for a car lease - It'll help you evaluate and compare Auto Leases.
To make sure you're getting the best car lease - review this info.
Car Lease Shopping Checklist
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Vehicle
Year/Make/Model ___________________________________
Dealer Name _____________________________________________ Dealer Contact ___________________________________________ Dealer Phone # _______________________________ (See the last section of checklist to add any options or equipment) Lease term (number of months) ________ Mileage limit (per year) _____________ How much is due at lease signing (total up-front cost)? ___________ How much is the capitalized cost reduction (down payment)? ____________ How much are the other costs that are included in the total? ___________ How much credit will you receive for any trade-in or rebates? ___________ What is the agreed-upon, total MSRP value of the vehicle? ____________ What is the gross capitalized cost of the lease? ____________ (You can ask for an itemization of the gross capitalized cost, and you can usually negotiate the amount of some individual items. What is the residual value? _____________ Does the lease include an option to purchase the vehicle? ________ What is the purchase-option price, including any purchase-option fee? ___________ (Fixed-price and fair-market-value purchase options may be available.) What is the rent charge (money factor)? _______________ (This amount is like the interest or finance charge on a loan or credit agreement. You may be able to negotiate this figure, but a change in the amount may affect other amounts in the lease agreement.) What is the total monthly payment, including taxes? ______________ (Make sure the payment amount fits your budget.) What are the end-of-lease costs? Disposition fee and/or other end-of-lease costs ______________ (Your lease may impose a disposition fee if you do not purchase the vehicle.) Per mile charge for any excess miles you drive ______________ Have you reviewed the standards for excessive wear? _______________ (Your lease should specify these standards.) Are you responsible for the maintenance costs under the lease? ________ (You are generally responsible for seeing that the maintenance requirements are met.) What are the insurance coverage requirements for this Lease? Bodily injury to 1 person ______________ Bodily injury to 2 or more persons per accident _________________ Property damage __________________ What are the maximum Insurance deductibles allowed by the lessor? ____________ (Check with your insurance company to see what the cost of insurance coverage will be.) Does the lease provide gap coverage if the vehicle is totaled or stolen? ________ If it does not, how much would gap coverage cost? _____________ (Gap coverage pays the difference between the early termination payoff and the insured value of the vehicle. It usually does not pay for such items as insurance deductibles and past-due payments. If you need gap coverage, or want more information, see "What is Gap Insurance") How will an early termination payoff be calculated? ________ (Different methods result in different payoff figures.) How much in additional fees, if any, are added to the payoff amount? ____________ Have you asked about alternatives to the advertised lease? ______________ (You can compare different lease offers.) Have you reviewed a copy of the lease? _________________ (Just ask the Dealer for a copy - If they won't give it to you - find another Dealer) Read and understand the lease before you sign it. Make sure any oral promises are stated in the agreement. Federal law requires that you receive important disclosures in writing before you sign a lease agreement. You should receive and keep a copy of your signed lease and any disclosures. The disclosures may be in your lease agreement or on a separate form.) |
| Options and Equipment If an accessory or option can't be Residualized (100% of that cost figured in the lease) then skip the accessory or pay cash for it - remember, you're leasing this vehicle. Just ask you're Dealer Contact to find out what can be residualized and what can't. |
Engine size ________ Automatic transmission ________ Air conditioning ________ Stereo tape player ________ Compact disc player ________ DVD player or other video system ________ Cruise control ________ Power windows ________ Power locks ________ Power seats ________ |
ABS (anti-lock) brakes ________ Tilt wheel ________ Sun roof/moon roof ________ Premium wheels ________ Global positioning system (NAV) ________ Mechanical breakdown protection ________ Extended warranty ________ Roadside assistance ________ Other ________ |
I do have an obligation to point out that not all Car Makers, Dealers, Salespeople, Insurance Companies and Banks are greedy or crooked. This site is dedicated to honest Companies and their Professional Employees who've grown weary of the ignorant and classless giving the automotive related industry a black eye......a black eye that I feel is very close to being permanent.
By using these new and used car guides, I hope to be able to help you find the Best Businesses, and the Professionals that represent them, with very little effort on your part and help you....
Save More Money and More Time Than You Ever Have Before.
It is also my hope that these Companies and the Professionals that represent them will have more business than they can handle - a reward they justly deserve.
Thank you for visiting My New Car Purchase - and please take 5 seconds to or perhaps let a friend or relative know about us - Click here to send this page to a friend.
I guarantee that you will have an exceptional experience the next time you buy a car, van, truck or SUV - again, thank you for visiting this Web Site!
Tom O'Leary - "A Concerned Dad....and Automotive Analyst"
New Car Purchase - Exceptional New Car Purchase Advice and Automobile Purchase Strategies for your next new car or used automobile purchase.
Feel free to e-mail me at: Tom at my new car purchase (no spaces) dot com - or take a few seconds to send a question or comment by Clicking here
P.S. Make sure you check out the My New Car Purchase Blog.
To see specific information on how to have the best new car purchase you've ever had, click on the My New Car Purchase links listed below.
