vehicle lease
Temporary auto agreement
A vehicle lease is a contract allowing someone to use a car, truck, or other vehicle for a set period in exchange for regular payments, without owning it.
Unlike buying, you return the vehicle when the lease ends—typically after two to four years.
Leases often include mileage limits and fees for excess wear: The vehicle lease allowed 12,000 miles per year.
At lease end, you may have the option to purchase the vehicle at a predetermined price.
- rentalPaid temporary use
- monthly paymentRecurring scheduled remittance
- monthlyOccurring each lunar cycle
- paymentFulfilling a financial obligation
- down paymentInitial sum toward purchase
contract · mileage · low mileage · dealership · financing · term · residual · depreciation · signing · agreement · buyout · early termination · turnover · keys · showroom · test drive · negotiate · credit
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- leaseslessee, lessor, sublease, subletting, rental agreement
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