Before-You-Sign Car Lease Checklist

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Credit and budget

• I have checked my credit reports at AnnualCreditReport.com and know my approximate score range.
• I know the total monthly budget for the car, including insurance, fuel or charging, and registration.
• I have a realistic estimate of annual miles, including commuting, trips and a buffer.
• I have a quote from my insurer for the exact model, since leases require higher coverage limits.

Price and offer

• I negotiated the vehicle price (capitalized cost) separately from the monthly payment.
• I asked for the money factor and residual value in writing, and converted the money factor to an APR.
• I know the exact amount due at signing and what each line includes.
• I compared written quotes from at least three dealers for the same term, mileage and trim.

Contract

• The contract states the mileage allowance and the cents-per-mile excess charge.
• I know the disposition fee, the purchase option price and the early termination terms.
• I understand whether GAP coverage is included and I have declined add-ons I do not want.
• I have read the wear-and-tear standard and know how to arrange a pre-return inspection.