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At the end of a car lease you pay a certain amount if you decide to buy the car what is this amount called?
Residual. This is the difference between the price of the car and what you have all ready paid. Let's say the car price was 30,000 and you paid 15,000 with the lease. You still have a 15,000 balance so that is what you will pay to keep the car. If you don't the dealer will resell the car for that and a bit more to make the money out of the car. Take the car for a check up to your mechanic before you turn it in so the dealer can not say you have to pay for repairs. I had a dealer try this and he wanted to add several hundred to the cost of the car above what I owed. The week before I had it in and checked out and that was the only way I could prove the dealer was trying to cheat me.
What else can I help you with?
With a Rent-to-Own lease- can the landlord at the end of the lease decide not to sell?
Normally there is no such thing as Rent to Own of a dwelling. Usually it's rent with option to buy. The amount of money paid in rent may or may not count toward the costs of ownership. This all depends on the term of the lease. The Landlord has the right to decide not to sell the property at any time during or after the lease period.
Do you have to pay for extra miles on a lease if you decide to purchase the car at the end of the lease term?
Yes, if you decide to purchase the car at the end of the lease term, you may have to pay for any extra miles that exceed the mileage limit specified in the lease agreement.
In what circumstances would you have to sign a lease form?
If you are renting a house, apartment, or business location, you will need to sign a lease form. This serves as a contract between you and the landlord that you will pay a certain amount of rent and you both will abide by the terms set out in the lease.
Why would you have to give notice to move when its the end of your lease term?
Some leases automatically renew themselves if notice is not given within a certain amount of time before the end of the lease term.
What are the options on a Toyota lease if ailing grandfather's driver's license is terminated?
The bank/leasing company really couldn't care about his license. Your grandfather has a commitment to pay a certain amount per month for a certain number of months. There is likely a stiff charge for early lease termination. You can try to find someone to take over the lease, with the approval of the bank. You can also find out the amount required to buy the vehicle outright and then sell the car.
What exactly does homes for lease mean?
Leasing a home is similar to renting a home. You will pay rent to the owner with a contract. However with a lease you are often required to rent the place for at least a certain amount of time. If you move out before then, you may be held liable for the remaining months of your lease.
How can you use a lease payment calculator to figure out what your monthly mortgage payment will be?
Go to timevalue.com website and open the page containing 'TCalc Financial Calculators' page from the site's 'Product' menu. There you will find the Lease Payment Calculator where you have to enter the Lease Amount, Lease Rate, Residual Amount, Lease Term and Number of Advance Payments. After that, click on the 'Compute' button to get the amount.
Can a landlord decide to collect a security deposit five months after lease was signed?
They can change conditions upon renewal. Not sure if they can do this if it is not on the lease. Read your lease: it may be that they failed to collect it at the time.
How does a rent to own home contract work?
In general, you will sign a lease for a certain amount of time. A specific amount per month will be set aside into an account by the owner for use as a downpayment on the property when you are ready to purchase.
Is it possible for me to sell my leased car before the lease term is completed?
Yes, it is possible to sell a leased car before the lease term is completed, but there are certain factors to consider such as the buyout amount, early termination fees, and the agreement with the leasing company.
How much can your landlord raise the rent all at once to a new tenant?
It depends on your lease. If you don't have a lease, the rent can be raised at any time by any amount. If you do have a lease, check the lease. If their are limits raising the rent in the lease, then you can bring that to your landlord's attention. If they raise your rate more than what's in the lease, then you can sue them in order to get them to comply with the lease. If there are no limits identified in the lease, then the rent can be raised at any time by any amount.
Can a lease be paid off early?
In many cases, yes. You will have to look into the terms of your specific lease to be certain.
