How to Lease a New Car

If you are in need of a new vehicle but are not ready to fully commit to purchasing a vehicle, leasing may be a great option for you. Wondering how to lease a new car and if this method is right for you? The automotive experts at Holman have you covered. We have created this guide covering car leasing benefits, how to lease a car, short term vs. long term lease options, and more. Read on to see if leasing is a good alternative to traditional financing for your driving needs and budget. 

Is Leasing Right for Me? 

Before you decide to lease a car, you need to consider whether or not you are a good candidate for this financing method. Will you be able to stick to the average yearly mileage on a leased car (typically 10,000 to 15,000 miles)? Are you interested in customizing your ride? There are a few factors to consider before signing on the dotted line. 

• Will your car needs change in the next three years? If so, you may want to look into leasing. It is a short-term commitment to a reliable form of transportation. 
• Do you maintain your vehicle properly? If you take good care of your vehicle and keep up with regular maintenance, leasing can be beneficial. 
• Do you want to customize your vehicle? When you lease, you need to keep the car as close to factory condition as possible since it will be returned to the dealership. 

How to Lease a Car 

Now that you have decided to take advantage of car leasing benefits, you may be wondering how to lease a new car. Fortunately, it is quite simple when you follow the steps below. 

• Determine the make and model you want to lease. Estimate your average yearly mileage on a leased car before you start shopping, as this will help in the negotiation process. 
• Visit the dealership to set up a test drive. At Holman, we always recommend setting up a test drive so that you are completely confident in your selection.
• Decide on the type of lease you want. You will need to compare short-term vs. long term lease options. With an open-end lease, there is more leeway regarding when you return the vehicle. In some cases, you can have a window of several months where you are able to turn in the car without any early termination fees or late fees. A closed-end lease has a set end date. A single pay lease lets you pay for the entirety of the lease upfront instead of making monthly payments.
• Select the best final lease terms. Reach out to the dealer again before finalizing the agreement. Be sure to ask any questions you may have, sign the necessary paperwork, then drive home in your dream car.

Contact Holman for More Information

Now that you know how to lease a new car, are you ready to start the process? Holman can help. Contact us today for more information.