Automobile Lease

(redirected from Automobile Leases)

Automobile Lease

A way to structure the purchase of an automobile. Rather than buying a car outright, the buyer rents the vehicle from the seller for a certain period of time, after which the buyer either returns the car or purchases it for a price agreed upon in the lease. Payments are usually lower on a lease than on a car loan, and it is easier to qualify. The buyer also bears no risk for the car's depreciation because he/she can simply return the automobile at the end of the term. The seller, on the other hand, is allowed to effectively sell the car at least twice: once new and once used. However, automobile leases generally are not considered good investments if a person wishes to use a car for a long period of time. It often also comes with more stringent terms, such as a limit on the number of miles one may drive in a year. See also: Capital Lease.
Mentioned in ?
References in periodicals archive ?
There are two types of automobile leases that exist in the United States, open-end and closed-end leases, for both new and used vehicles.
March 17 /PRNewswire/ -- Automobile leases, purchase rebates and other discounts may seem to make it possible for the average consumer to get into a car more affordably, but when it comes to car buying and leasing, according to a new book by author and automobile expert Scott J.
Servicemembers are allowed to terminate their automobile leases when called to periods of active duty in excess of 180 days.
Service members may terminate automobile leases upon receipt of PCS or deployment orders.
Nonrecurring expenses exclude unnecessary expenses, such as country club dues, automobile leases for nonemployee family members and season tickets to sporting events.
The "Automobile Operations" segment performed steadily due to the expansion of automobile leases.
The SEC investigation began following Huntington's announcement on April 16, 2003 that it intended to restate its financial statements in order to reclassify its accounting for automobile leases from the direct financing lease method to the operating lease method.
Yesterday, Huntington Bancshares Incorporated (HBAN) announced that the Securities and Exchange Commission (SEC) has launched a formal investigation regarding its accounting practices for automobile leases.
2 billion portfolio of automobile leases from direct financing leases to operating leases.
The commercial paper issued by the conduits was backed by loans, consumer loans, custody receipts, automobile leases, and aircraft receivables.
As previously announced, the Form 10-K/A would have restated Huntington's financial results to reflect the reclassification of all of its automobile leases from the direct finance lease method to the operating lease method of accounting.
the ability to provide financing options for our customers, including underwriting equity automobile leases internally.

Full browser ?