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CAR-BUYING QUESTIONS
Usually not, though many new vehicles come with a limited period of complimentary scheduled maintenance from the manufacturer, and some lessors sell prepaid maintenance plans. You're responsible for keeping up with the maintenance schedule in the owner's manual, and skipping it could lead to charges at lease end. Repairs for defects are generally covered by the factory warranty during a typical lease term.
General information, not legal or financial advice; rules vary by state and lender.Yes, but it's often expensive. Early termination typically requires paying the remaining payments or the difference between the payoff and the car's value, plus an early termination fee. Alternatives include buying the car out and selling it, trading it in at a dealer, or transferring the lease to someone else if your lessor allows it. Ask your lessor for an early payoff quote and compare it to the car's current market value.
Yes. Nearly every lease includes a purchase option, letting you buy the car at the end for the residual value listed in your contract plus any purchase fee and taxes. Many lessors also allow an early buyout at a payoff amount. Because the residual is set at signing, buying makes the most sense when the car's market value ends up above that number.
Typical lease fees include an acquisition fee from the lessor, a dealer documentation fee, title and registration, sales tax as your state requires, and a disposition fee at the end if you return the car. You might also face excess mileage or wear charges and an early termination fee. Ask which fees are government charges and which are dealer fees, and get all of them in writing before signing.
Ask for the capitalized cost (selling price), the money factor, the residual value as a percentage and dollar amount, the term, annual mileage allowance and per-mile overage charge, the amount due at signing with a breakdown, acquisition and disposition fees, and whether GAP is included. Having all these in writing lets you compare offers and check the math. OffLot's lease estimate shows the payment, due at signing, residual, depreciation and rent charge.
It can differ quite a bit. Luxury and performance brands often have higher parts and labor costs, and some require premium fuel or specialty service. Mainstream brands with common parts are usually cheaper to keep up. Check the maintenance schedule in the owner's manual, ask about included maintenance plans, and look at independent repair-cost estimates. These ongoing costs are an important part of total cost of ownership.
Aim for at least 20 to 30 minutes on roads you actually drive, including highway, stop-and-go traffic, bumps and parking. Check visibility, seat comfort, noise, how easily you can use the controls, and whether your car seats and gear fit. Driving two finalists back to back helps you compare. OffLot's Open lot mode includes a checklist that reminds you to test-drive your real route and check the basics.
WATCH BEFORE YOU BUY
Manufacturer overviews and independent reviews, labeled so you know who made them.