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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 ...
Open-ended(conventional) motor vehicle leases generally include a provision for determining the amount of "excess wear and tear" (or "wear and use") at the end of the lease term, for which the lessee is responsible upon returning the vehicle. [2] Closed-end leases have become very popular for automobile buyers in North America since the mid ...
Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.
A finance lease has similar financial characteristics to hire purchase agreements and closed-end leasing as the usual outcome is that the lessee will become the owner of the asset at the end of the lease, but has different accounting treatments and tax implications. There may be tax benefits for the lessee to lease an asset rather than purchase ...
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 ...
Continue reading ->The post Open-End Funds vs. Closed-End Funds: A Guide appeared first on SmartAsset Blog. Aside from knowing which share class you're investing in, you also need to know whether ...
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.
Leasing a car vs. buying: A summary Leasing and buying are both valid ways to get your hands on a new vehicle. Buying offers fewer restrictions than leasing on how much you can drive and what you ...