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Care for the vehicle required by the lease agreement. Maintenance may include manufacturer-recommended servicing and any repairs needed to keep the vehicle in good operating condition.
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A contract that you may purchase to cover some or all of the vehicle maintenance and servicing. Distinguish from Service contract.
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A lease agreement in which some or all of the vehicle maintenance and servicing is the responsibility of the lessor or assignee.
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(or mileage limitation) The fixed mileage limit for the lease term. If you exceed this limit, you may have to pay an excess mileage charge.
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Sample disclosure forms developed by the Federal Reserve Board. You should receive a similar form before becoming obligated on the lease.
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(or Lease factor) A number, often given as a decimal, used by some lessors or assignees to determine the rent charge portion of your monthly payment. This number is not a lease rate and cannot be converted to a lease rate by moving the decimal point.
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This term may refer to one of two required US federal disclosures. See Base monthly payment and Total monthly payment.
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The state and local taxes that you must pay monthly when you lease a vehicle. These payments, if any, are added to your base monthly payment and paid as part of your total monthly payment.
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Manufacturer's suggested retail price, sometimes called the sticker price.
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