Leasing is back.

After practically disappearing during last year's financial crisis and recession, automakers are once again offering low-cost leases on most models.

You can now lease a 2010 Toyota Camry, for example, for $199 a month with $1,848 due at signing. Or a 2010 BMW 328i sedan for $379 a month, albeit with a hefty $5,004 due at signing.

Here's where to find all the lease deals currently available.

There's a good chance you'll find one on the car or truck you'd like to drive.

But is leasing the best way to finance that new ride?

Plug all of the numbers into our Buy or lease? calculator.

It will allow you to compare total costs and monthly payments to make sure the lease you're being offered is cheaper than simply buying the car or truck with a conventional auto loan.

When you lease a car or truck, the finance company or bank buys the vehicle you choose, rents it to you for a specified period of time and takes possession of the vehicle when the lease is over.

That makes leasing a more complex way to finance a vehicle than a traditional loan, with many different fees and terms.

To get the best deal, you have to understand all of the potential costs that could turn your lease a more expensive deal than you expect.

Here's what to look for:

Acquisition fees

Leases impose acquisition fees in the same way that mortgage lenders charge points. But finance officers don't always spend much time talking about them until you're so committed to the deal that you'll go along because you're too eager to start driving your new car. Acquisition fees are usually included in your monthly payment. Ask about it. Make sure they show you what this does to your monthly payment and tell you what it comes to every month.

Capitalized cost

This is the price of the car, plus any acquisition fees or other charges and minus manufacturer rebates or other discounts. Make sure you understand and agree to everything that goes into calculating the cap cost.

Residual value

This is what the leasing company estimates the car will be worth at the end of the lease. How much you pay for depreciation is determined by subtracting the residual value from the capitalized cost. Regardless what the actual value of the car is after two years, the residual price is what you can buy the car for at the end of your lease.

Open- and closed-end leases

Make sure you get a closed-end lease. At the end of a closed-end lease, you hand over the keys and walk away. With an open-end lease, you could wind up responsible for any difference between what they estimated your car would be worth at the end of the lease (the residual value) and what it is really worth.

That can cost you a great deal of money. The leasing company might lure you into the deal with a low monthly payment based on an overly optimistic residual value and then stick you with a big make-up payment when you return the car.

Monthly payments

Monthly lease payments cover:

• Depreciation on the car
• Interest on the loan the leasing company used to buy the car
• And in most states, sales tax on the amount you're paying for depreciation.

Because lease payments are made in advance, your first payment will be due the day you sign the contract.

Disposition fee

This covers the cost of selling or getting rid of the car at the end of your lease. Know what it will be and ensure that the fee is waived if you decide to buy the car rather than return it.

Mileage

One of the most important parts of every lease is how many miles you'll be allowed to put on the car while it's in your possession. Don't sign up for anything less than 12,000 miles a year, but 15,000 miles a year is more realistic for most drivers.

You can always negotiate for a higher limit, but the more you drive, the faster you're depreciating the car, thus decreasing its residual value and increasing your monthly payments.

Penalties

Your contract will spell out extra charges for:

• Driving more miles than you were allowed
• Returning the car with any damage beyond "normal wear and tear"
• Returning the car and getting out of the lease early.

It's critical to understand what kind of damage the leasing company looks for when you return the car and how much it will charge for everything from coffee stains on the upholstery to a dented door or crumpled fender.

Security deposit

Some leases require a security deposit that's usually equal to or a little larger than your monthly payment. At the end of the lease, any penalties and the disposition fee are taken out of your deposit. You'll get back whatever's left.

By Mike Sante

Interest.com Managing Editor