Ok this may sound stupid but I have never leased before. Do you shop for a leased car the same as a car you are going to buy? By that I mean price wise of the total car? What else should I watch out for on leases? Dealers are the only ones who can lease correct? For example my bank probably doesnt right? Can you change your miles pers year in the middle of a lease?

Thanks guys

 

The answer to your first question is yes. The possible exception to this may be a factory subsidized lease where the price is set for you. Hopefully someone else can chime in here with proper info. The main thing you want to look out for are the money factor and residual rate. Both these figures will impact the bottom line. The lower the money factor the better and the higher the residual rate the better. Make sure you allow yourself enough mileage and then don't go beyond it. Also make sure you read the contact carefully regarding early termination and excess wear and tear penalties. The penalties can be severe. Next, dealers are NOT the only ones who can write leases. All 4 of mine have been with banks although the dealer helped negotiate them. You may also do better by arranging the lease financing before you go to the dealer. It gives them less figures to manipulate you with. Finally, I don't think it is possible to change miles per year. Once you are under contract, I believe you are locked in. Someone correct me if I'm wrong. Hope this helps.

 

You can find competitive lease quotes at Lease Compare .

 

Thanks for the info this helps allot!