According to the Bureau of Transportation Statistics, 2,262,000 new car leases were signed in the U.S. in 2008. In the state of New Jersey, a new or used car lease can last from 24 to 36 months. Leasing a car is possible by taking specific steps to negotiate a leasing agreement with the dealer.
Choose the make, model and year of the auto to lease. Some cars retain value better than others; therefore, choose an auto that will still have a high resale value at the end of the lease. Kelley Blue Book or Automotive Lease Guide (ALG) publish statistics regarding resale value.
Negotiate the leasing agreement after identifying reputable New Jersey auto dealers online through sites like theautofinder.com or manta.com. The price for leasing the auto is negotiable, but be cognizant that certain upfront fees, known as acquisition or disposition fees, may be included in the terms of the lease and that, in New Jersey, the upfront tax is for either the purchase price or the lease payment total. Many dealers are willing to negotiate an option to buy the auto at the end of the lease term.
Sign the lease after carefully reviewing all terms and conditions. Most New Jersey auto leases impose hefty penalties for prematurely terminating the lease. Be aware of auto registration and insurance requirements, as these are the responsibility of the lessee.
