Vehicle Lease

A vehicle lease is a legal document that allows the lessee the use of a vehicle for a fixed period of time. In a lease with the option to purchase, if all the rental payments are made in full, the lessee is allowed the option to buy the vehicle at the contractual purchase option price. Typically the car dealer offers the lease terms and contract of a third party finance company – in most cases the captive finance company associated with the vehicle being leased.