Leasing

Leasing

A term referring to the 'use only' of a vehicle, by a customer entering into an agreement with a finance company, it includes both payout and residual risk leasing such as Contract Hire or an Operating Lease for consumers.

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Part of Speech: noun
Synonym(s):
Blossary:
Industry/Domain: Financial services
Category: Auto loans
Company: Mercedes-Benz
Product:
Acronym-Abbreviation:

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Related terms

leasing

Banking; Investment banking

The renting out, for a specific period, of industrial equipment, facilities and capital goods (machines, technical installations, vehicles, etc). The manufacturer or - in the case ...

leasing

Professional careers; Sales

The granting, under contract, of use of a product for an agreed upon period of time in return for a rental payment.

leasing

Accounting; Auditing

The use of a lease or of equipment under a lease.

lease

Accounting; Auditing

Written or implied contract by which an owner (the lessor) of a specific asset (such as a parcel of land, building, equipment, or machinery) grants a second party (the lessee) the ...

Acceptance Fee

Financial services; Auto loans

A one-off payment to cover the administration of setting up the finance agreement & credit searches. Paid at the commencement of the finance agreement with the first payment or ...

Accessories

Financial services; Auto loans

An extra which can be added to the vehicle, which is not part of the manufacturer's specification.

Administration fee

Financial services; Auto loans

A fee charged to cover the cost of amending an agreement.

Mercedes Advance .Agreement / document

Financial services; Auto loans

A legally binding contract made between a customer and a financial company for the purchase or use of a vehicle. The agreement is binding once it is signed on behalf of the ...

APR

Financial services; Auto loans

Also known as Annual Percentage Rate, it is the interest rate which a customer will pay on a finance agreement, including all fees.

Annual Statement of Accounts

Financial services; Auto loans

A statement outlining the payments made to date including any paid late etc.

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