walk away

(redirected from Closed-End Lease)
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Synonyms for walk away

go away from

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References in periodicals archive ?
Retail financing and closed-end leases are available to qualified customers immediately throughout the entire US McLaren dealer network.
The remaining approximately 4% are closed-end leases, whereby EFM bears the residual risk.
Assuming a closed-end lease, the lessee could simply return the vehicle and pay any disposition fee at the end of the lease term.
is $15,000 by assumption for both the closed-end lease with a guaranteed buy back and for the open-end lease.
A closed-end lease frequently is called a walk-away lease because the customer often has the option of returning the car after the lease runs out, owing nothing.
Security against such a loss is guaranteed in a closed-end lease where an end-of-lease value, or residual, is predicted by the leasing agent, finance company or bank.
With the more common closed-end lease, assuming there's no excessive mileage or wear on the vehicle, the customer returns the car with no extra costs.
The closed-end lease, also called walk-away, has payments based on the vehicle's fixed end value, determined by the vehicle's age and its mileage at the end of the lease.
A closed-end lease requires the lessor to bear the risk of any possible decline in the equipment's economic value.
The web site also provides an overview of a closed-end lease, the most common type of vehicle lease used by the automotive industry, sample disclosure forms required in leasing transactions, and a glossary of terms used in leasing.
A recent new car sales promotion offered potential customers the choice between (1) a 66-month closed-end lease, or (2) a 60-month installment financing contract for a 1988 BMW Model 528e.