Posts Tagged: closed-end lease

Closed end lease versus open end lease

What’s the difference between a closed end lease versus an open end lease? A closed end lease is the most common vehicle leasing arrangement. At the end of a closed-end lease you return the vehicle in good condition and within the agreed-upon mileage and you walk away without owing any money. Or, you can buy the vehicle for the residual value stated in the lease. Buying the vehicle is optional. An open end lease exposes you to more risk or reward. Where the residual value in a closed end lease … Read More