Local auto leasing is an alternative method to secure the use of a new car. The car is actually owned by a bank or a leasing company and allows the use of the car at a low rate. Before deciding if local auto leasing is for you, consider all the facts concerning the lease. With the high price of purchasing cars, the monthly car payment can be very high. A popular alternative to car purchasing is local auto leasing. This is a method to acquire the use of a car at substantially lower monthly payments. The bank or leasing company charges the customer just enough to cover the depreciation on the car and a monthly charge for the use of the vehicle. Usually the lease is for a specific period of time and, at the end of the renting period, the customer has the option to purchase the automobile. If local auto leasing is being considered, it is necessary to understand that a contract must be signed with details concerning the car. Usually there are terms for yearly mileage allotments, trade in value, length of lease and other items such as these included in the agreement. As with any agreement, it is important to know what you are signing before putting your name on the dotted line. What to Watch Out For? As appealing as a local auto lease sounds, there are certain things to understand before signing the agreement. Understand the mileage limits, the down payment, and breaking the lease are a few of the more important topics that must be thoroughly comprehended.