Finance Lease
A finance lease or car lease is also known as an auto lease, vehicle lease or asset lease.
How It Works
The finance company purchases the vehicle on your behalf, you then lease the vehicle back from the finance company through the agreed upon monthly rates for the length of the leasing term.
You have two options at the end of your lease:
- You can pay a residual value (final instalment) on the lease and take ownership of the car
- Trade it in or refinance the residual and continue the lease.
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