How does an auto lease work?

Question

I understand the general idea, but what happens when something in the car breaks, or needs work? Who pays? What about things like new tires? What happens if you are in a car accident? If you aren't happy with the car can you get out of the lease early?

So if you have to replace the air conditioning on a brand new leased car, you would have to pay for it all yourself, but then give the car back after a few years and be out all that extra money? Can you get a warranty on a lease? Is having to pay for parts that you can't keep the downside of a lease?

Answer 1

When you lease a vehicle you are responsible for full care of it; except what the warranty covers and what your insurance will cover in case of an accident.

A lease offers GAP insurance (a good thing) and that covers the difference between the amount owed and an insurance check should the vehicle be totaled.

You are entitled to normal wear and tear (read the lease before you sign, and before you return the vehicle at lease end). The vehicle will be inspected for wear and tear when you return it, that is standard and normal, basically the same inspection as if you owned it and were trading it in.

Leasing is not for everyone, it is neither good nor bad, just what it is, each person must decide. If you return the leased vehicle early it is expensive to do so but normal and standard. You will be charged an early termination fee in most cases.

For more information (as a Yahoo Answer person), you are welcome to a Courtesy Copy of my #1 BestSeller the “bestdealofyourlife”. Just go to http://www.thebestdealofyourlife.com and send an eMail from the contact page mentioning Yahoo Answers, I will send you a Courtesy Copy.

besttoyou, Chuck
30 years/thousand of deals
http://www.thebestdealofyourlife.com

Answer 2

It's your car, u have to pay for everything unless it has some kind of warranty. You can't just get out of a lease early, u can trade in the car for a different one though but the lease may change.

Answer 3

everything is a down side on a lease...1..u put down a deposit...2 you pay every month[[[yes its a little less then buying] 3 u pay for every little scratch and many fees when you turn it in...4 you end up with no car.... contracts are almost impossible to get out of early without paying thousands in fees or getting a new longer lease.... whats covered on warren tee ?? look at contract....everyone i know that ever leased was sorry and bought next car...