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Closed-end leases are so called because they run for a fixed term, and the lessor and lessee agree in the lease contract what the residual value of the property being leased will be. In most cases (particularly in retail motor vehicle leases), the lessee has an option to purchase the property for the agreed residual value at the end of the ...
Open-End vs. Closed-End Lease Leases have either open-end or closed-end terms. An open-ended lease means the dealer will calculate the value of the car after you return it at the end of the lease.
Such arrangements are also known as lease-option, lease-to-own or lease to purchase option. Hire purchase, used in the UK and other countries for the purchase of cars, other consumer equipment and business equipment. The term lease-purchase is also used. Closed-end leasing, used in the US and Canada for the leasing of cars.
Hire purchase. A hire purchase (HP), [1] also known as an installment plan, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g., 40% of the total) and repaying the balance of the price of the asset plus interest over a period of time.
If you’re considering investing in a mutual fund or ETF, you might have heard the terms “open-end” and “closed-end” -- and immediately scratched your head in confusion. Indeed, these are ...
The Motley Fool has been helping ordinary people become better investors for nearly two decades. This month, we're reaching out to millions of investors to help guide them in their quest toward ...
Lease purchase agreement (click to view pages) Rent-to-own, also known as rental purchase or rent-to-buy, is a type of legally documented transaction under which tangible property, such as furniture, consumer electronics, motor vehicles, home appliances, engagement rings, and real property, is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during ...
With so many different investments to choose from, it can be hard to know all of them. But with some little-known investments like closed-end funds, the opportunity comes from most people's ...