Leasing
A low monthly payment can hide a large amount due up front or expensive return terms. Get the full written lease, check the driving limits, and compare it with buying over the same number of months.
Last reviewed: September 22, 2026. How we review this guidance. Rules and fees can vary by state, lender, dealer, and vehicle.
Ask for the full lease terms in writing
Ask the dealership for the agreed vehicle value, everything due at signing, each payment, the total of payments, the mileage allowance, and what you may owe if you return or buy the car at the end. The federal lease disclosure uses terms such as capitalized cost, residual value, and rent charge; the plan below explains where they fit. Review the federal disclosure requirements.
If the dealer quotes a money factor, ask how it relates to the written rent charge. A money factor is not an APR. Compare the complete lease cost, including up-front and end charges, instead of judging the offer by one number.
Start and monthly costs
Compare money due at signing with all monthly payments. A larger up-front payment may make the monthly amount look smaller.
Use limits
Record the mileage allowance, excess-mileage charge, wear standards, maintenance duties, and insurance requirements.
Exit terms
Read the rules for ending early, the return fee, and any option to buy the car before signing.
Leasing checklist
Open a step for instructions. Check it off only after you have done it; progress stays in this browser.
Decide How You Will Use the Car
Estimate your driving, needs, and how long you expect to keep the car.
Delivery and first-month record
Leave with the complete documents and a dated list of what still needs to happen. Use a separate row in your notes for each promise or deadline.
- Confirm the lessor, acceptance status, complete lease disclosures, insurance requirements, and any remaining delivery conditions before taking possession.
- Confirm insurance for the exact VIN is effective before possession. Keep the written coverage confirmation, delivery condition photos, keys, and promised-equipment list.
- If you traded a financed car, check with the old lender about a week later that the payoff arrived. Verify your first payment, title/registration, promised work, and any product refund separately.
This is your own planning record, not a message to send as-is. Notes stay in this open page only. Copy, download, or print before leaving. Record document names or reference numbers; keep account numbers, credit reports, and identity documents in your own secure files.
Fill in this record
Vehicle identification number (VIN), mileage, date/time, seller, signed document list, condition photos, keys, accessories, and missing items.
Leasing company, verified contact, confirmed terms, any pending acceptance or delivery condition, and confirmation date.
Insurer, coverage effective date/time, proof received, and lender/lessor requirements confirmed.
Written lease return and early-ending terms, mileage/condition rules, fees, coverage, and product-cancellation terms.
Old lender, expected payoff date, actual confirmation, remaining balance, and unresolved action. Write not applicable if none.
Verified company collecting payment, amount, due date, payment method, and confirmation that any automatic payment is active. Write not applicable for a cash purchase.
Responsible party, agency/forms, receipts, expected completion, temporary permit expiry, and follow-up date.
Each item, written commitment or cancellation request, deadline, responsible person, refund recipient, and completion/account-credit evidence.
Sources & Further Reading
- CFPB Regulation M: Consumer Leasing Disclosures
- CFPB: Leasing versus Buying a Vehicle
- FTC: Financing or Leasing a Car
These sources explain general rules. Check current requirements in your state and the terms in your own paperwork.
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Car-deal rules and fees depend on your state. Check your state motor-vehicle or consumer-protection agency and your written agreement.