6 Steps to Leasing a Car: What Everyone Should Know

Publishers Note: Be Careful Be Very Very Careful...if there is any chance that you will not be able to complete the lease preiod..DO NOT LEASE! Any saving you think you will get from leasing will go up in flames...with todays low interest rates why lease?

    CINCINNATI--July 11, 2002--Americans love their automobiles and now they are also learning to love leasing their cars.
    Almost 25% of Americans chose to lease vehicles last year rather than going with a traditional bank loan. That's up from the less than 10% a decade ago. As many consumers lease for the first time, they may be unaware of all their options and may simply accept what the dealer has to offer without comparing. They may well be spending more than they should.
    One website, www.LeaseCompare.com, has chosen to address this need for education and provides an opportunity for consumers to evaluate their leasing options and shop for the best deal among a group of lenders. Visitors to the site can read a six step Auto Lease 101 discussion and work though the process at their leisure without the pressure of sales people. The steps briefly include:
    Step One - Is Leasing for You? - Consumers review brief questions about their car use and buying habits to see if leasing makes sense. Individuals who are accustomed to always having a car payment, who prefer driving cars under the manufacturer's warranty, or who need their vehicle for business purposes often see leasing as an advantage.
    Step Two - Choosing Your Vehicle - Leases are difficult and costly to break and customers should consider vehicles that hold their value and should take the time to test drive the vehicle before committing.
    Step Three - Negotiating a Price - While many people focus on finding the lowest lease payment, negotiating a good price for the car prior to arranging the lease terms lowers the overall cost of the deal.
    Step Four - Picking an Ideal Term - 36 month leases are standard but for some people, considering cars with a good reliability history, a longer lease might make sense.
    Step Five - Mileage Considerations - Consumers should estimate accurately the miles they intend to drive over the term of the lease.
    Step Six - Putting Money Down - Large down payments may make the monthly burden easier, but the site argues that lump sums are lost in the case where a vehicle is totaled or stolen. It makes more sense to bank the down payment and slowly use it for payments over the life of the lease.
    Once shoppers have decided on their lease terms, www.LeaseCompare.com, as the name suggests, provides a tool to evaluate leasing options from a number of sources. Customers can actually lock in the lease quote they like and in a matter of minutes apply for credit via a secured server. They receive a leasing package detailing terms and vehicle delivery.
    Tarry Shebesta, president and owner of Automobile Consumer Services, Inc. (ACS) the lease facilitator for LeaseCompare.com, notes "visitors to LeaseCompare.com often call our customer service center before finalizing their lease request online. They want to know what the catch is and are surprised to find there is none. They really do save money by taking the time to compare."
    Beyond basic education and leasing, LeaseCompare.com also offers links to help negotiate car prices and determine the availability of both new and late model used vehicles. There are few consumers that won't save money by investigating this site.

    About Automobile Consumer Services, Inc. (www.acscorp.com)