Looking to get the best new lease price available? NY Auto Brokers can help you secure the lowest possible monthly lease payment on a new car. We have saved our customers thousands of dollars by connecting them to exclusive lease quotes from our network of dealers. This free, no-obligation service will ensure you get the best lease deal on your next car.
Car Leasing FAQs
DO I NEED A DOWN PAYMENT?
Down payments are not required, but will certainly lower your monthly payment.
WHAT ARE ALL THE COSTS TO LEASE?
Besides the down payment, there are several other up-front costs, including:
- First month’s lease payment — lease payments are due at the beginning of each month, with the last payment due one month before end of lease
- Security Deposit — negotiable, typically equal to monthly lease payment and can be refunded at end of lease minus disposition fee, mileage, or damage charges
- Acquisition Fee (Bank Fee) — negotiable, typically averages $595 to $795 and may be rolled into your monthly payments
- Disposition Fee — negotiable, typically around $350 and could be waived if you decide to purchase car at end of lease
- Sales tax — state and local tax on the down payment
- Registration, License, Tag and Title Fees — same fees whether you buy or lease
- Property Taxes — some states have annual property taxes on leased cars
- Doc Fees — negotiable, typically averages $250 to $600 and is the dealer’s “profit”
- Prep Fees, Delivery Fees — negotiable and should be negotiated out of the lease if possible
WHAT DOES “ZERO DOWN” MEAN?
A “Zero Down” lease usually means that most fees are rolled into the monthly lease payments. However, you will still have to pay Registration, License, Tag and Title Fees up front as required by law.
HOW LONG CAN I LEASE?
Car Dealers offer leases on new cars for 24, 36, and 39 months.
WHAT ARE THE RISKS OF CAR LEASING?
You may lose some or all of your security deposit if:
- You go over your allowed mileage
- In the event of accident or theft
- Your car has excessive damage at the end of the lease