What is a Lease & How Does it Work?
- Topics:
- Leasing
- Source:
- Auto Leasing Resource Center
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Overview: Technically, a lease is a legal agreement between two parties that specifies the terms and conditions for the rental of property. In this, the concept has been explained through sale of a car. The dealer simply acts as an agent for the leasing company and negotiates the terms under which one will rent the car from the leasing company. Some of the lease terms include: the capitalized cost, the money factor, the residual value etc. There are two types of automotive leases available today, the "closed-end lease" and the "open-end lease. Both have been discussed in brief. There is a long list of pros and cons with automotive leasing that should be fully understood and carefully considered before one sign on the dotted line.
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Format: HTML | Date: Jan 2003 | Pages: 5
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