Exact leasing terms and options may vary between leasing banks. The most common leasing terms include monthly term options, mileage allowance, insurance requirements and any fees associated with the lease.
You can find this information in your lease contract. Read your contract over before signing it to avoid any issues during or after your lease.
It makes sense to lease a vehicle during the time the car is under the manufacturer’s bumper-to-bumper warranty; otherwise, you may find yourself shelling out a lot of cash for unexpected repairs.
For example, if the DVD player breaks in the car, you are expected to fix it before you return the vehicle. If you are unsure if you can stay under 15,000 miles per year during the lease term and don’t plan to buy the vehicle at the end, then leasing is probably not for you.
While the lower monthly payment is attractive, fees at the end of the lease or from an adjusted lease term can cost you more than a traditional financing would, which defeats the purpose of leasing. Read the contract over fully before signing.