Posted by Elizabeth Dennis on November 24, 2009 | No Comments
A defintion of an open-end lease provided by the resource: “Sometimes called a finance lease. It usually offers lower payments, but carries a risk for the consumer. Under an open-end lease, the lessee must pay any difference between the residual value of the car as stated in the lease and the fair market value of the car, if lower, at the end of the lease. The lessor pays for the appraisal that sets the value. If the consumer doesn’t agree with it, the consumer may pay for a binding, independent appraisal by someone agreed to by both parties. Because the lessee is taking on the risk of having to come up with this extra payment, the payments are lower than for a closed-end lease.”
Source: Auto Lease Assumption
Learn more auto leasing terms at Newbuyer.com
A detailed auto lease glossary covering car lease terms such as amount due at lease signing, balloon payment loan, Blue Book, consumer leasing act, dealer sticker price, excess wear charge, holdback, mileage charge and more.
A defintion of an open-end lease provided by the resource: “Sometimes called a finance lease. It usually offers lower payments, but carries a risk for the consumer. Under an open-end lease, the lessee must pay any difference between the residual value of the car as stated in the lease and the fair market value of the car, if lower, at the end of the lease. The lessor pays for the appraisal that sets the value. If the consumer doesn’t agree with it, the consumer may pay for a binding, independent appraisal by someone agreed to by both parties. Because the lessee is taking on the risk of having to come up with this extra payment, the payments are lower than for a closed-end lease.”
Source: Auto Lease Assumption
Learn more auto leasing terms at Newbuyer.com.
Posted by Elizabeth Dennis on November 24, 2009 | No Comments
A comprehensive glossary of more than thirty car leasing terms and definitions. Learn about acquisition fees, capitalized cost-reduction, closed-end leases, loan origination fees, purchase options, realized value and more.
The resource’s definition of residual value: “The lease-end value of the vehicle, established at the beginning of the lease. This value is used in determining the monthly lease payment. The residual value is also used to determine the depreciation and other amortized amounts that go into determining the monthly lease payment.”
Source: Â Best Buy Auto Leasing
See more glossaries of auto leasing terms at Newbuyer.com.
Posted by NewBuyer on November 24, 2009 | No Comments
A valuable look at how to secure a home mortgage with bad credit. Some steps to follow include: obtaining your credit report and credit score, improving your credit, shopping for a mortgage lender, finding a co-signer for your mortgage loan and asking someone else to apply for you.
From the resource: “If you apply now with not-so-perfect credit scores, you may find financing, just at a higher rate than you would like to pay. There are some things you can do now to help you get a mortgage and get a bargain home price in the process.”
Source: Fine-Tuned Finances
Read more about bad credit mortgages at Newbuyer.com
