The Bureau of Transportation Statistics reports that 2,262,000 new car leases were signed in the U.S. in 2008. In the state of Texas, new or used-car leases can last for up to 36 months. Leasing an auto in Texas involves taking specific steps to enter into a leasing agreement with a dealer.
Select the make, model and year of the automobile to be leased. Choose an automobile that will still have a high resale value when the lease ends. Some cars retain value better than others. Consult the Kelley Blue Book or the Automotive Lease Guide to find statistics regarding the resale value of autos.
Identify Texas auto dealers and negotiate the leasing agreement. Online sites such as manta.com or theautofinder.com offer databases of auto dealers that are searchable by state.
Pre-apply for financing. Many auto dealers offer pre-approval for financing of a leased vehicle. Best Auto Lease and Apple Leasing, both Texas-based auto dealers, offer online credit applications for prospective auto lessees.
Sign the lease after reviewing all terms and conditions. In Texas, automobile lease agreements impose sales tax on the full vehicle value. In addition, the lessee is responsible for auto registration, insurance requirements and penalties apply for prematurely terminating the lease.
