Before you start shopping for a car lease, there are four main requirements you should be ready to meet. In this presentation, we'll go over those requirements and their associated costs.

1. swapalease.com
Car Lease
Requirements

2. Leasing Requirements
• Car leasing is a great option for drivers
who want the benefits of a short-term
commitment.
• Before you start shopping for a lease,
there are four main requirements you
should be ready to meet.

3. Credit Score
• Leasing usually represents a greater risk
for the lending institution, so credit
requirements tend to be stricter for leasing
than they are for buying.
• A lower credit score will increase your
interest rate, or even prevent you from
leasing at all.

4. Up Front Costs
• In general, leasing a car comes with the following
up front expenses:
– First monthly payment
– Security deposit
– Vehicle registration feed
– Down payment or cap cost reduction
– Acquisition fee or loan origination charge
– Applicable taxes
• Note that if you qualify for a sign and drive deal,
you will not need to make an up front payment.

5. Car Insurance
• Your insurance costs may vary widely
depending on the car you are leasing, the
state you live in, and other factors.
• When estimating how much insurance will
cost you, you must know the leased
company’s minimum requirements.

6. State Minimums for Insurance
• Each state has a minimum level of insurance that
you need purchase for your vehicle.
– Most state require minimal coverage that generally
will not meet requirements of a lending institution
and/or leasing company.
• Generally, insurance companies recommend that
you purchase more insurance than is required by
your state.
– If you have few assets, a more minimal policy may
work best.
– If you have many assets, a more robust insurance
plan may be best (to better protect said assets).

7. Termination Requirements
• If you terminate the lease agreement, either
voluntarily or involuntarily, you must pay penalties
and in some cases the remaining balance of
monthly payments.
– Termination fees won’t come into play when shopping
for a lease, but it’s important to understand them
before signing.
• To help protect yourself from termination fees,
confirm that the leasing company allows you to
transfer your lease if your automotive needs
change during the term of your lease.

8. About Swapalease.com
• Swapalease.com is the world’s largest
vehicle lease marketplace.
• Our goal is to match individuals who want
to get out of their lease, with individuals
who are looking for short-term leases with
attractive payments and no money down.

9. Follow Us & Learn More
• Join the conversation on car news and leasing on
the Swapalease.com Facebook page.
• Follow auto and leasing trends at the
Swapalease.com Twitter account.
• Circle Swapalease.com on Google+ for the latest
updates.
• For tips and tutorials on transferring your lease,
check out the Swapalease.com blog.