A prepaid lease is an agreement between the dealer and the customer, where an entire lease term is paid off from month one to month 48 with the only variable likely to be the mileage. A single-payment lease is one where a person negotiates a lease price for a close-ended lease, and then writes a check and leaves. It may only be a six-week lease or a six-month lease. The key is that there is only one payment made for a specific time. The prepaid lease covers an entire lease period while the single-payment lease covers a shorter time.
Is a Prepaid Lease the Same as a Single Payment Lease?
October 7, 2010
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