New Car Lease Deals

Looking to find the best new car lease deals? Before letting that new car smell lure you into signing any paperwork, make sure to follow these tips for finding the best new car lease deals.

Keep Your Eyes and Ears Open

Scan through local newspapers and pay attention to television and radio commercials from dealers advertising lease specials. If there are multiple dealers in your area, compare their advertisements, especially the fine print. Also, there's a good chance these dealers are receiving incentives from the manufacturer. Make sure to visit the manufacturer's website and search for any lease specials.

Ask Around

Find other shoppers and compare the deals they have found. Also, find people who have recently leased the same car you want and ask for details on their lease deal. Ask them which dealer earned their business. Online forums are a great place to find car shoppers and owners who are actively discussing new car lease deals. To find a forum, start by doing an Internet search using the car's make, model and the word "forum" in your search terms.

Timing Is Everything

Start looking months before you plan on leasing your new car. Generally, dealers are eager to make deals and meet their quota towards the end of the month or the end of the year. Also, manufacturers usually offer incentives when a car is approaching the end of production or when they need to make room for new inventory. If you find a great deal but have a few months left on a current car lease, ask the dealer if there are incentives to help you get out of your lease early.

Learn the Lease Terms

Many variables affect your lease payments, such as capitalized costs, residual value and money factor. For further explanation on lease terms, please read Auto Lease Calculator: How to Calculate Auto Lease Payments. Make sure you are familiar with these terms and review all the numbers used to calculate your payment.

Now that you are educated, you can sign the paperwork knowing that you secured a great deal.