The most popular form of automobile lease is the one in which at the end of its term the lessee simply turns in the car (assuming the preset mileage limit has not been exceeded and the car hasn't abused)
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A. B. C. D.D
The most popular form of automobile lease in which the lessee simply turns in the car at the end of the term is known as a "closed-end lease," which is answer choice A.
A closed-end lease is a type of lease agreement that sets a predetermined mileage limit and lease term. At the end of the lease term, the lessee can return the car to the lessor and walk away, assuming that the car has not been abused and the mileage limit has not been exceeded. If the lessee has exceeded the mileage limit, there may be additional charges.
In a closed-end lease, the residual value of the car is predetermined at the beginning of the lease term. The residual value is the estimated value of the car at the end of the lease term, and the lessee is only responsible for paying for the use of the car during the lease term. If the actual value of the car at the end of the lease term is less than the residual value, the lessor takes the loss.
On the other hand, an "open-end lease" is a type of lease agreement where the lessee is responsible for the difference between the residual value of the car and its actual value at the end of the lease term. Open-end leases are less common than closed-end leases, and are typically used for commercial vehicles.
"Walk away lease" is not a widely recognized term in the auto leasing industry, but it may refer to a closed-end lease in which the lessee can simply walk away at the end of the lease term without any additional obligations or fees, assuming that the car has not been abused and the mileage limit has not been exceeded.
In summary, the most popular form of automobile lease in which the lessee simply turns in the car at the end of the term is a closed-end lease.