Chapter 4: The leasing experience

If you’ve decided to lease a car, you’ll need to know the ins and outs of the process from beginning to end.

A car lease comes with new terminology and a host of new considerations for the leaser. This chapter will explain what the terms mean, what the up- and downsides of leasing are, the pitfalls you need to be aware of, questions you must ask before you sign a lease and laws specifically about leasing. If you think leasing is an option for you, this chapter will assure that you’ve got all the information you need.

What can you expect to learn from this chapter:

  • Actual cost & residual value

    The key aspects of a good lease and what to expect when your lease is up are explained.

  • Pros and cons of leasing

    There are pluses and minuses to leasing, so this checklist will help you decide if it’s right for you.

  • 10 must-ask questions

    Here are the questions — and answers — that you need to consider before you lease.

  • Top 10 leasing booby traps

    Even though you’re not buying the car, you still need to be aware of the lessor’s angles.

  • Leasing laws you should know

    Leasing companies are bound by the Consumer Leasing Act. We break it down so you understand what the lessor must tell you — in writing.