| Leasing a used vehicle can be an attractive deal in | | | | Next, you need to check the initial mileage and the |
| many ways, no leastgetting you into that luxury | | | | overall vehiclecondition. The maximum mileage on a |
| model or SUV, for lower monthly payments thana | | | | used car should be no more than 12,000miles a year. |
| brand new one. Be prepared, however, to do some | | | | A 3-years old car with 50,000 miles on the clock is |
| more homework to dissecta good deal. | | | | veryunlikely to make a good used-vehicle lease. |
| As with new car-leasing, your price research should | | | | Check for signs of excessiveuse, like worn seat |
| focus on the keyfigures that are the initial market | | | | fabric, worn pedal pads and dirty engine, which |
| value and the estimated residual valueof the used car. | | | | mightindicate that the odometer has been rolled back. |
| This is harder to predict since there is no | | | | If the car is notcertified, you need to get it |
| factory-setsticker price on used cars, and the residual | | | | thoroughly inspected. Ask your dealer for |
| percentage is very much peggedto a subjective | | | | amanufacturer-sponsored certification program or |
| current retail value. Use different sources to get a | | | | have your car certified bya qualified mechanic or |
| roughidea of the value of the used car: your local | | | | inspection service. |
| dealerships, internetcar-evaluating tools, such as and | | | | Most used-car deals don't come with gap coverage. |
| Cars.com, to name but a few. | | | | This is a special typeof coverage, normally offered |
| Another way to pin down a good estimate is to | | | | on a new auto-lease, to cover the consumer ifthe |
| compare the lease on yourgiven car to a lease on a | | | | leased vehicle is lost, stolen or damaged. Typically, |
| new-car with the same make and model. This | | | | auto-insurancepolicies cover only what your car is |
| shouldgive you a better picture of the difference | | | | worth at the time of loss, not whatyou still owe on |
| between leasing new and goingfor used. Just like | | | | the lease. The difference could run into thousands |
| leasing a new car, used vehicle leasing is | | | | ofdollars. For peace of mind, do not enter into any |
| moreattractive when residual values depreciate the | | | | used-car lease withoutgap-coverage. Arrange it |
| least. You stand a betterchance of finding a bargain in | | | | separately with either the lease dealer or |
| the high-end, luxury vehicles that keeptheir values | | | | yourauto-insurance company. |
| better as used cars. | | | | |