Walk away(redirected from Closed End Leases)
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Describing a lease where the lessee must return the asset at the end of the lease's term. A walk away lease gives a great deal of flexibility to the lessee because the costs are all known in advance; likewise, the lessee does not need to predict the fair market value of the asset because he/she will not possess it. The lessor carries all risk. A walk away lease is most common with car loans. It is also called a closed-end lease.