Leasing

How to Lease a Car Online

If you’re looking to lease a car online for the first time, it’s not difficult but it helps to have a checklist of these 7 steps presented in the article.

Read time

6 minutes

Date

02.23.2023

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Overview

Almost a fifth of new vehicles in the United States were leased in 2022. Leasing a car is a popular option that overcomes many of the traditional car ownership challenges, such as depreciation, maintenance, and high interest rates associated with financing a car purchase.


But how do you lease a car online instead of buying it outright or leasing it the traditional way? Fortunately, if you’re looking to lease your next car, it’s simple to do it online without having to go to a dealership, engage in back-and-forth negotiations, and deal with hidden fees. Conveniently, FINN offers just that. Browse online for your next car with FINN and complete the booking in just a few clicks.

What is a car lease?

Think of car leasing as an easy way to drive a car as if you own it — without the associated headaches of actually owning it!


Instead of purchasing the vehicle outright (usually with the help of a car loan), you “rent” it for a certain length of time and mileage. Mostly, by leasing a car, you can drive it for less per month than you would with a purchase loan for the same vehicle. 


The only downside? At the end of the lease, you don’t own the car and must give it back as you would a rental car (unless you have a contract with a purchase option). 

How is leasing different from buying?

If you buy a new car, you’ll own it outright but you’ll usually need to grapple with:

  • Depreciation of the vehicle

  • High interest rates on car loans (and currently increasing)

  • Regular monthly transfers to repay the loan

  • Regular maintenance requirements

  • Other costs

If you lease a car online, you’ll avoid these concerns. You won’t own the vehicle at the end of the lease but you’ll enjoy lower monthly payments and the freedom to lease any car that you want to drive next — without the hassles of trading in your vehicle for another.

Another option is a car subscription, which gives you access to a fleet of vehicles rather than a single car.


If you want to learn more about this, check out our post on the differences between leasing, buying and subscribing.

How to lease a car online

If you’re looking to lease a car online for the first time, it’s not difficult but it helps to have a checklist of steps and avoid the common mistakes of leasing a car.

Tick off each of the following seven steps and you’ll be well on the way to successfully arranging your car lease:


1. Research the car you want

When people lease a car online, most start with the dream: what type of car do you see yourself driving? Leasing allows you to access many of the best and latest models.


You can research cars on car comparison websites like CarAndDriver.com and MotorTrend.com to get a better picture of the car you want. Make sure it suits your lifestyle and meets the desired standards of performance, safety, and environmental friendliness.


2. Compare buying versus leasing

It’s best to understand the economics of your lease early on. How much would it cost to buy the car you want? And how much would it cost to lease it?


There are many lease/purchase calculators available with a simple Google search. You’ll need to compare monthly payments, overall costs and other more hidden pricing factors (e.g. roadside assistance costs and the depreciation of a vehicle you own outright).


It’s a good idea to get an initial idea of the estimated costs before you make any hard and fast decisions.


3. Find a reliable dealer

Your choice of dealer will go a long way to deciding how smooth your online car lease experience is.


Compare your leasing company options by checking customer reviews, which should provide a good idea of which dealers provide the best value, choice, and service.


You can check the overall pricing of the vehicle you want to lease with your shortlist of candidates, making sure that their quotes include delivery, insurance and optional services, such as snow tires, roadside assistance, etc.


Also, make sure what the terms of the lease are, especially the minimum lease commitment, which varies between leasing companies.


4. Apply online for your car lease

Once you’ve settled on the right leasing company, you’ll begin the online lease application process for your new car. 


This should be relatively painless and the result of your application shouldn’t take more than a day or two.


Generally, if you’re over 25 with a valid US driver's license for at least two years, a FICO credit score of at least 640 and you meet all the safety criteria, your application should be approved (requirements do vary from company to company, though).


5. Sign and return the lease documents

Assuming you’re approved, you’ll quickly be sent the lease documents, which you’ll need to sign and return. 


The documents are likely to arrive by courier and you’ll need to send them back in one of the pre-addressed envelopes normally provided for approved customers.


6. Arrange car insurance

Car insurance needs to be arranged before you can drive your car and you’ll likely be prompted by your leasing company about this. 


Many car leasing companies now look after the insurance for you as part of the service though you can always check online before you commit to a particular premium/policy.


7. Arrange the delivery of your car

The final step is the exciting part — receiving delivery of the vehicle you’re leasing. 


With many companies, you can lease a car online and also schedule delivery online too. All you need to do is book a convenient time and be ready to take your new car on its first spin after it arrives.


Leasing a car online long-term can help you minimize the financial risks involved in driving the car you want — but you may need to commit to several years.


With a FINN subscription, you only need to commit to six to 12 months. FINN's fast, reliable and flexible service is especially convenient because insurance, registration, and roadside assistance are included.

How FINN does car leasing differently

1. Choose your perfect car

Pick your next car and select the term and mileage package that’s right for you.


2. Get approved in a few clicks

Submit your information and get approved in under five minutes.


3. Delivery straight to your home

Schedule for FINN to deliver your new car at a convenient date so you can focus on the road ahead.


4. Just hit the road and swap when you’re done

All that’s left to do is drive. When your term is over, you can return the car and pick out something new, or simply walk away.

How FINN does car leasing differently
How FINN does car leasing differently

How FINN does car leasing differently

1. Choose your perfect car

Pick your next car and select the term and mileage package that’s right for you.


2. Get approved in a few clicks

Submit your information and get approved in under five minutes.


3. Delivery straight to your home

Schedule for FINN to deliver your new car at a convenient date so you can focus on the road ahead.


4. Just hit the road and swap when you’re done

All that’s left to do is drive. When your term is over, you can return the car and pick out something new, or simply walk away.