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You decide on the car you want and negotiate your best price with your dealer (or get a pre-arranged price or promotional lease deal). The dealer will calculate your monthly payment based on the negotiated price and other non-negotiable factors, such as finance rate, that are provided by the leasing company. You may lower your monthly payment by making a down payment if you choose. Your payment will also include sales tax (in most states and Canada) based on where you live.

At the time you sign your lease contract, you will be required to pay your first month's payment (lease payments are always paid at the beginning of a month, not the end), as well as any official tax, tag, and registration fees required in your locality. Some leases may require an up-front security deposit that you get back at lease-end.

Tags:  the leasing process