New SUV Lease

Here are a couple new SUV lease tips that can make the leasing decision an easier one. Keep these things in mind when looking to lease your new SUV.

Know What You're Reading

A new auto lease may have terminology you are not familiar with. Terms like Cap Cost Reduction, Disposition Fee, Gap Insurance, Residual Value and Subvented Lease can make you feel overwhelmed if you're unsure of what they mean. You can prevent this by researching these terms a little bit before you try to understand the lease. Never sign anything if you don't completely understand it.

What Happens at the End of the Lease?

This is just as important as the lease itself. If the lease has a high disposition fee (the amount the dealer charges to prepare the car for resale), of if you've exceeded the mileage allowable by the lease, you will be looking at a higher final payment. Many leases will give you a purchase option at the end of the lease. You may want to consider this, but read the terms carefully. Often the purchase option can be financed out if it's a high amount. This isn't always worth the hassle, so consider the decision carefully before deciding.