BUILD YOUR LEASE DEAL

Q: How does leasing a car work?

Leasing a car involves several steps: Set a monthly budget, choose your preferred make and model, select a mileage plan (usually 7,500 to 15,000 miles per year), and fill out our Build Your Lease Deal form. We’ll send you a custom quote. If you're happy with it, submit a credit application. Once approved, we’ll arrange delivery or pickup of your lease vehicle.

Q: What is MSRP and Sales Price?

MSRP (Manufacturer’s Suggested Retail Price) is the full price of a new vehicle. Sales Price is the discounted price after applying dealer incentives and discounts.

Q: What is Money Factor and Residual Value?

Money Factor is the interest rate equivalent on a lease, set by the manufacturer. Residual Value is the estimated value of the vehicle at lease-end. You can choose to return or buy the car at that value.

Q: What is an Auto Broker?

An auto broker is a leasing expert who works with multiple dealers to find you the best lease deal. We save you time, money, and stress by handling price comparisons and negotiation for you.

Q: Can I lease a car with no money down?

Yes, you can lease a car with no money down. While taxes, fees, and the first month’s payment are usually due at signing, we also offer sign-and-drive leases with nothing due upfront. We’re happy to explain both options in detail.

Looking to lease a car online? Use our Build Your Lease Deal tool to customize your next lease in minutes. Choose from any make or model, input your ZIP code, mileage, and credit range, and we’ll generate a personalized quote — no dealership visit required.

We serve customers across New York, New Jersey, Connecticut, and Pennsylvania, offering flexible terms, down options, and fast approvals.

Lease a Car Online with Status Auto Group

At Status Auto Group, we make leasing a new car simple, transparent, and fully customizable. As an independent auto broker, we work with trusted dealer partners across the Tri-State area to find the exact vehicle you want — including your preferred trim, color, and features.

We offer lease specials, flexible terms, and fast approvals based on your credit and location. When you fill out the Build Your Lease Deal form above, our team will review your info and contact you with a personalized quote — no obligation, no hassle.

We proudly serve drivers throughout New York (Staten Island, Brooklyn, Queens, Manhattan, Bronx), New Jersey, and surrounding areas.

Frequently Asked Questions - Leasing a Car

How does leasing a car work?

Step 1:
The first step before deciding on a new car lease is to determine how much you want to spend each month for your lease.

Step 2:
Decide on the make and model that you are interested in. Are you looking for a luxury sedan, sports coupe, economical daily driver, SUV, or an exotic weekend car? Also, decide which features are most important to you – whether that be a sunroof, Apple Carplay™, navigation, blind-spot monitor, etc.

Step 3:
Determine how often you will be driving your leased vehicle. Most common leases are 7,500 miles, 10,000 miles, 12,000 miles, and 15,000 miles per year. If you drive more than 15,000 miles a year, the manufacturer charges a pre-determined charge per mile (ex. $0.20 per mile).

Step 4:
After deciding your budget, make/model, top vehicle features, and the miles you drive per year – it is time to start the process of getting a lease quote. By filling out our “Build Your Lease Deal” form, we can provide a tailored quote to you within 24 hours.

Step 5:
You will receive a lease quote based on your information – If you are interested in moving forward, you would fill out a personal credit application, or business credit application, to get approved for the lease.

Step 6:
Once approved, the lease deal can be finalized, and the delivery or pick-up of your new lease vehicle can be arranged.

What is MSRP and Sales Price?

MSRP stands for; Manufacturers Suggested Retail Price. It’s the total cost of the car if you were to buy it outright brand new.

Sales Price is the price of the vehicle after discounts off of MSRP.

What is Money Factor and Residual Value?

Money Factor is the interest amount, set by the manufacturer monthly, that you would pay on your lease.

Residual Value is the value or price of the vehicle after your lease term is over. You can choose to buy your lease at the end, or turn it in for a new lease.

What is an Auto Broker?

An Auto Broker is your personal negotiation specialist – we work on your behalf to secure the best auto lease deals from our large network of dealers. Instead of our customers having to visit or contact multiple dealers for different lease prices – we do all the work for them – which reduces stress and saves a huge amount of time for our customers.

Can I lease a car with no money down?

Yes, you can lease a new car with no money down. However, this still requires that you pay taxes, fees, first month payment up-front.

If you are looking for a sign and drive lease – this means that no money would be due at signing.

Both options are possible, and we would be happy to explain each to you in detail. We believe in honesty and transparency at Status Auto Group.