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An open-end lease combines the flexibility of ownership with the potential cash flow and tax advantages of leasing. It may also be referred to as a \u201ccapital lease\u201d, \u201coperating lease\u201d or \u201cTRAC lease.\u201d With this type of lease, your business has the option to retain equity in the vehicle while freeing up capital.
What Happens When My Car Lease is Over? At the end of the lease, you will return your vehicle to the dealership where it will be inspected. The dealership will make sure that the lease did not exceed its mileage limit and that there is not excessive wear and tear to the vehicle.
An open-ended lease is set up as a "cost plus" arrangement, while the closed-end lease offers a fixed price. Fleets that opt for leasing over financing or outright cash purchases still mostly prefer an open-ended TRAC lease, which can also be known as an operating lease.
The two most common types of leases are operating leases and financing leases (also called capital leases). In order to differentiate between the two, one must consider how fully the risks and rewards associated with ownership of the asset have been transferred to the lessee from the lessor.
There are, in general, four types of leases: the gross lease, the modified gross lease (or net lease), the triple net lease, and the bond lease.

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Closed-end lease Closed-end leases are designed to put the cost of depreciation onto the lessor, instead of the lessee. Instead of negotiating a GRV, customers have the option of either returning the car at the end of the lease (assuming it's in good standing) or buying it back from the lessor.
Closed-end lease Closed-end leases are designed to put the cost of depreciation onto the lessor, instead of the lessee. Instead of negotiating a GRV, customers have the option of either returning the car at the end of the lease (assuming it's in good standing) or buying it back from the lessor.
At the end of a lease contract, you simply hand back the car to the finance company who collect it for free. If the vehicle is in good condition, you will not pay damage charges. You can then choose a new lease agreement on your next car or look elsewhere.
Choice A: Buy Out Your Lease This is an especially advantageous strategy if you entered your lease before the 2020 pandemic began. That's because your lease's residual\u2014the value the automaker predicted your car would be worth when the lease ends\u2014is fixed in the contract.
An open-end lease is a type of rental agreement that obliges the lessee (the person making periodic lease payments) to make a balloon payment at the end of the lease agreement amounting to the difference between the residual and fair market value of the asset. Open-end leases are also called "finance leases."

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