Find out what is an Open-End Lease and who is best suited to use this type of leasing model.
FOLLOW A MAINTENANCE PROGRAM
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SEARCH FOR A TRUSTED MECHANIC
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CHECK THE AIR PRESSURE IN YOUR TIRES
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REVIEW YOUR SUSPENSION FREQUENTLY
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SERVICE YOUR VEHICLE AS REGULARLY AS POSIBLE
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“NISI QUIS ELEIFEND QUAM ADIPISCING VITAE ALIQUET BIBENDUM ENIM FACILISIS GRAVIDA NEQUE VELIT EUISMOD IN PELLENTESQUE”
CONCLUSION
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Open-ended leases operate a little differently than traditional closed-end leases. With an open-ended lease, the lessee agrees to adjust the final payment to accurately reflect the value of the vehicle at the end of the lease term. This can result in either a balloon payment, or in many instances a refund. Businesses can benefit from these types of arrangements because of the flexible mileage terms, lower monthly payments, and potential positive equity growth during the lease term.
Deciding on which route to take is very much up to the lessee, with the biggest difference being the end of term equity position is based on the real market value of the vehicle.
● The final refund or payment in an open-ended lease is based on the difference between the residual/projected value and the realized/actual value
● A closed-end lease is common for manufacturer-dealership offers on new vehicles
● Reasons for seeking out an open-ended lease include not wanting to worry about a set mileage limit, ability to lease a used vehicle, and many strategic use cases for any particular vehicle with custom residuals to reach objectives
