How to Save Money on Auto Leasing

1. Don't decide to lease a car because payments are lower. The payment are lower because you don't own the car. You'll have a lot of fees to compare for the best deal. Compare the price of the car, your trade-in allowance, the monthly payments, down payments, extra fees, mileage, wear and tear, and the cost at the end of the lease.

2. Compare different lease offers and try your hand at negotiating the following terms:

• The agreed value of the vehicle. Why? Because a lower value may reduce your monthly payments.
• Up-Front Costs
• The Lenght of Your Lease
• Monthly Payments
• End-of Lease fees and Charges
• Allowed Mileage and per Mile Charges
• Options for Purchase

The Federal Trade Commission has an all inclusive publication on understanding car leasing fees to negotiate. You'll do well for yourself by also asking about alternative advertising specials and other leasing offers. You can find the FTC guide to car leasing here: http://www.federalreserve.gov/pubs/leasing/

3. Leasing fees have gone through the roof. According to a recent Newsday report, Domestic automakers have cut way back on leasing programs. Poor earnings reports had Chrysler jumping ship, they've abandoned their leasing options. Profits for automakers have been scarce but you can still lease a car from one of the 4,500 independant leasers. The best bet for getting a vehicle today is to buy a good car cash if you can. This doesn't sound like a money saving tip but it really is. Why not save to buy a good used or new vehicle and ditch the ball and chain headaches.