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More dealerships are offering used car leases on vehicles that have recently come off an initial three-year lease. These vehicles are often labeled as "Certified Pre-owned" (CPO).
The rent charge is what dealers refer to as the cost of leasing the vehicle. This is similar to the annual percentage rate, or APR. The rent charge might also be called the "money factor."
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.
Usually, car leases allow the lessee to drive the car for a certain number of miles for a certain number of years. The lessee pays a fixed monthly payment for the privilege of driving the vehicle, and when the lease ends, the lessee returns the vehicle to the lessor. The lessee pays only for the value of the vehicle for the term of the lease.
Right now, used vehicles' current market values are several thousand dollars higher than the residual value. Drivers find buying out car leases is the smartest financial move [Video] Skip to main ...
Most car rental offices offer a range of vehicle sizes to suit a variety of budgets and space requirements and some additionally offer specialized vehicles to suit its location such as convertibles, prestige models, hybrid/electric vehicles, or SUVs and passenger vans. At major airports or in larger cities, some independent car rental agencies ...
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