Many consumers shy away from leasing due to one simple question, “what is a car lease?” Learning what a car lease is can be simple as long as you have the right resources at your disposal. TopCarLeaseDeals.com is your number one information source and lease guide.
The New Car Lease Basics
Leasing is simply an alternate way to drive a vehicle. When you go to your local dealership you have the option to either purchase a new vehicle or lease it.
When you purchase the new vehicle, you get an auto loan or you can finance the purchase through the dealership. Your monthly payments go towards paying off the entire price tag of a vehicle. If you purchase a $20,000 car or truck, your monthly payments go towards paying off the full $20,000 and once that total has been paid, you completely own the new vehicle.
With leasing you only pay a fraction of the purchase price. When you sit down with the salesman you will determine a specific length of time that you will lease the vehicle for. During this time you own the car and make payments on it, but at the end of the lease term you return the vehicle to the dealership and have the choice to purchase it or to move on to a brand new vehicle.
Lease terms generally last 24 to 36 months and provide a flexible way to drive a new vehicle every couple of years. The amount you pay reflects how much the resale value of the vehicle is when you return it to the dealership. If you lease that $20,000 vehicle for 36 months and its resale value after that amount of time is $17,000, then your lease payments will reflect the $3,000 difference, plus any taxes and fees associated with the purchase.
New Car Leasing Terms
Capitalized Cost
This is the price that you and the dealer agree upon. Negotiating the Capitalized Cost is a great way to save extra money during your lease. To help you understand how much you should negotiate, request a free, no obligation lease price quote.
We offer free, precise pricing on any make and model that you are interested in leasing. You will receive a full pricing write-up which entails the current sticker prices, MSRP, and dealer invoice prices for the vehicle you are researching. Understanding the pricing behind your new vehicle is the best way to sharpen your negotiation skills.
Residual Value
Residual Value is the same thing as the resale value. It refers to how much the car or truck is worth to the dealership when you return it at the end of your lease. Looking for new vehicles with a high Residual Value will save you money on your lease payments. The more a vehicle is worth to a dealership at the end of the lease, the less you pay.
New Car Lease Prices
Request a free new car lease price quote now, find top new car lease deals in minutes. Compare Internet only new car lease specials from local dealerships. Select the best lease prices, negotiate a better deal, find top savings – it’s that easy. Get started today and save on your new car tomorrow!
