"Lease"

A contract between lessor and lessee for a specified time period and at a specified payment. The title to the car remains in the name of the lessor as owner of the asset. glossary.L.item.6.term:Lease Rate glossary.L.item.6.def:The monthly finance cost of a lease, similar to the interest rate on a conventional loan. Determined by the money factor.

Auto Dealers glossary and terms by letter

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