Colorado Checklist - Leasing vs. Purchasing
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How to fill out Checklist - Leasing Vs. Purchasing?
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FAQ
If you financed your purchase, the dealer should send the paperwork to the motor vehicle office in the county where you reside. If you paid for your vehicle in full, you may receive documents to take to your county motor vehicle office, or the dealer may forward the documents for you.
Lease agreement if vehicle is leased. Proof of sales tax paid if applicable; dealer invoice, showing proof of taxes paid or be collected. Colorado Residency Establishment Form (DR 2504) completed by owner or lessee of vehicle. certified weight slip, if required.
5 steps to buying your leased car:Determine the buyout amount or purchase price, if available, by looking at your lease and contacting your lessor. Evaluate the car's wear, tear, and mileage. Factor in how much (if anything) this could cost you. Shop around; you may find the same vehicle at a better value elsewhere.
Compare a new monthly vehicle payment to a lease payment. Also, factor in upfront leasing costs, including the security deposit, acquisition fee and documentation fees. If you'd pay more with a lease, taking into account fees, it might be smarter to just buy the vehicle outright rather than leasing it first.
Leased vehicles must be registered in the names of both the lessor and the lessee. The lessor is designated as LSR; the lessee is designated as LSE.
Registration for a Recently Purchased Vehicle The initial registration must be done in person at the DMV, but subsequent registrations can be done by mail or online. Colorado's vehicle registration fees are decided on the weight, taxable value, and the purchase date.
Lease agreement if vehicle is leased. Proof of sales tax paid if applicable; dealer invoice, showing proof of taxes paid or be collected. Colorado Residency Establishment Form (DR 2504) completed by owner or lessee of vehicle. certified weight slip, if required.
Factors to consider when making the lease or buy decisionYou want control of the property.You can consider the long-term cost.For some businesses, such as certain retail and service businesses, location is all important.You haven't found a suitable property to lease.You are in an area of appreciating land values.More items...
If your main goal is to get the lowest monthly payments, leasing could be your best option. Monthly lease payments are typically lower than auto loan payments, because they're based on a car's depreciation during the period you're driving it, instead of its purchase price.
