What is Lease Purchasing?

A Lease Purchase is a process that combines a basic rental lease with an agreement to purchase, or with an option to purchase property. The Buyer (or Lease-Purchaser) pays to seller a monthly payment that usually approximates a rental amount or a typical mortgage payment on home. A percentage of that payment is typically applied towards purchase price. At end of term, buyer has right to purchase property for price and terms to which both parties have previously agreed.

Put another way, a lease purchase is essentially a rental agreement combined with a purchase contract with pre-negotiated terms. The buyer leases property for a specific period of time and then purchases property before end of lease agreement. Sales price, length of rental, rent credits, escrow instructions, etc., are all contained in agreement.

First, some general guidelines from veteran moms:

1. Always, always, always try it on first.

And if possible, stuff it with as much junk as you plan to carry on a regular basis. This is only way to tell if it's everything fits, if it's too heavy, and if it will be easy for you to carry.

2. When in doubt, make it black.

Yes, new Kalencom Retro Tall Diaper Tote in pink poodles is awfully cute ($39.90 at Oh BabyGift.com), but choose this, and you don't have a prayer of getting your hubby to carry it for you. Ever.

3. First functional, then fashionable.

It is wonderful that there are so many new designer diaper bags out there. But cool doesn't cut it when you're in mall with a screaming baby, and you can't find pacifier because your diaper bag has no pockets or compartments.

What's New, What's Cool, What's Right For You

For super-organized, highly-functional mom, check out:

1. The Lands End Do-It-All Diaper Bag ($29.50)

This bag is practical, well-designed and won't break bank. It has an extra long changing pad, an adjustable strap and a "parent pocket" to hold your sunglasses, cell phone and other grown-up stuff. (http://www.landsend.com)

2. The L.L. Bean Diaper bag ($36)

Roomy enough to carry everything you'll need, but not so big that you'll feel like you're carrying a suitcase, L.L. Bean diaper bag is designed with function in mind. For example, it has a large zippered front section with key clip, so you can easily find your keys. Even more neat: The lining is in a contrasting fabric color to make it easy to spot whatever you're looking for inside. (http://www.llbean.com).

3.The Functionally Arranged Diaper Bag ($119.99)