Not all auto leases are the same. If you’ve heard this before, its true. Leasing a car offers several different types of leases, however the most popular are two. These are known as open-end leases and close-end leases. It’s important, before walking into the dealership to negotiate on an auto lease, that you know the different between both these types of leases.
The different between these types of auto leases will be stated in your lease agreement. Be very careful when you sign your lease agreement that you understand the difference between these types of leases, as you’ll be required to select which type of lease you will be bound by in the lease contract.
The different types of car leases include:
Next: Closed end auto lease