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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 ...
Guantanamo Bay Naval Base (Spanish: Base Naval de la Bahía de Guantánamo), officially known as Naval Station Guantanamo Bay or NSGB, (also called GTMO, pronounced Gitmo / ˈ ɡ ɪ t m oʊ / GIT-moh as jargon by members of the U.S. military [1]) is a United States military base located on 45 square miles (117 km 2) of land and water [2] on the shore of Guantánamo Bay at the southeastern end ...
The lease purchase agreement expounds upon what responsibilities the tenant/buyer and landlord/seller undertake during the course of the lease. This contract should describe any option fee and how much of the monthly payment will be credited to the down-payment for the purchase of the home at the end of the lease.
A finance lease (also known as a capital lease or a sales lease) is a type of lease in which a finance company is typically the legal owner of the asset for the duration of the lease, while the lessee not only has operating control over the asset but also some share of the economic risks and returns from the change in the valuation of the underlying asset.
The actual lease payments are calculated in a very similar way to loan payments, but instead of an APR, the company uses something called the money factor. At the end of a lease's term, the lessee must either return the vehicle to or buy it from the owner. The end of lease price is usually agreed upon when the lease is signed. [5]
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There are two types of buyouts: an end-of-lease buyout and an early lease buyout. As you might guess from the name, an end-of-lease buyout happens when your lease expires.
They'll most likely be able to work directly with the lender to finalize the deal, so all you'll need to do is sign the paperwork that gets you out of the lease and into the loan.