How do you choose a good luxury car to lease?


Quick Answer

To choose a good luxury car to lease, understand the lease terms and how costs are calculated, research the cars, understand the limits that come with the car's lease and try to bargain, notes Cars Direct. The best luxury car to lease depends on the person's own style and taste and own which company has the best lease deal.

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Full Answer

Use the following steps to help choose a good luxury car to lease:

  1. Understand the terms
  2. Makes sure to understand the terms used in a car lease. For example, in open-end leases, the residual value of the car is determined at the end of the contract while in closed-end leases, the value is set at the beginning of the lease.

  3. Determine the payments
  4. Use a lease calculator to determine a budget for the lease payments. The lease cost typically includes factors, such as the interest rate, value of the car and the length of the lease.

  5. Research the cars
  6. Research different types of luxury cars to determine the one that is the best fit. Look for cars that have high residual values. Car leases come with limits to certain factors, such as mileage, use and modification. Understand the limits that come with the vehicle.

  7. Haggle on the lease price
  8. Talk to the car salespeople to see if they are willing to lower the retail price of the car, which will lower the monthly payments. It is also good to know if the lease includes an auto lease assumption, which is a takeover of someone else's previous lease on the car.

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