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Benefits of Closed-End Leases Closed-end leases are fixed, predictable, and do not hold you responsible for the residual value of a vehicle. Lower Costs in Certain Cases: If your fleet requires low, predictable mileage, a closed-end lease can be a very affordable option.

Different types of leases 1.1 1. Financial Lease. 1.2 2. Operating Lease. 1.3 3. Leveraged and non-leveraged leases. 1.4 4. Conveyance type lease. 1.5 5. Sale and leaseback. 1.6 6. Full and non pay-out lease. 1.7 7. Specialized service lease. 1.8 8. Net and non-net lease.

These days, lessees have several options at the end of a car lease, including doing a lease buyout, buying out the car then reselling it, transferring the lease, doing a trade-in, or extending the lease. Before returning your leased vehicle, it's important to first review your options.

In contrast, an open-end lease provides greater flexibility, allowing organizations to expand or contract their fleet as needs evolve. For example, after a 12-month open-end lease period ends, you can continue paying on a month-to-month basis until the book value is zero and your organization owns the vehicle.

Yes, it is always important to read the fine print before signing. UWM's University Legal Clinic can provide help understanding the lease contract before signing.

In an open-end lease, you may receive a refund of any gain, and you are responsible for any deficiency. For example, if your lease early termination payoff is $16,000 and the amount credited for the vehicle is $14,000, your early termination charge will be $16,000 minus $14,000, or $2,000.

GSA, the nation's largest public real estate organization, provides workspace for over one million federal workers. These employees, along with government property, are housed in space owned by the federal government and in leased properties including buildings, land, antenna sites, etc.