Appendix A-1 Model Open-End or Finance Vehicle Lease Disclosures - federalreserve 2025

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The gross capitalized cost, including a disclosure of the agreed upon value of the vehicle, a description such as the agreed upon value of the vehicle [state the amount] and any items you pay for over the lease term (such as service contracts, insurance, and any outstanding prior credit or lease balance), and a
For a​ closed-end lease, each​ month, the lessee makes a fixed payment based on estimated usage. When the lease​ ends, the lessee returns the car and pays for mileage in excess of the estimate. For an​ open-end lease, each​ month, the lessee makes a fixed payment based on the​ cars residual value.
Open-Ended Vehicle means, companies operating as investment companies, and authorized to issue unlimited number of shares representing proportional equity ownership of a shareholder. This includes mutual funds, investment funds, unit trusts, insurance policies and other investment vehicles operated on a pooled basis.
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.
What Is an Open-End Lease? 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.
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Generally, there are two main types of car leases: Closed-end leases: this is the most common type of car lease. You agree to lease the car for a set term and certain mileage limits, and return it at the end of the leasing period. Open-end leases: open-ended leases are the exact opposite of closed-end leases.

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