Nonetheless, if you decide to go for commercial car leasing, then you should know that there are two options that the leasing company will offer you. An open lease or a closed lease.
Yet, before you make the final step, you will have to have in mind the following information about the car:
- The manufacturer’s suggested rental price;
- Down payment;
- Final negotiated price of the vehicle;
- Usage tax;
- Length of the lease;
- Car value at the end of the term- that is to say the residual value;
Hence, before signing any commercial car leasing contract you will have to make a choice between open lease or a closed lease.
Open Lease vs. Closed Lease
What is an open lease? What is a closed lease? More importantly which the difference between an open lease vs. closed lease is?
To start with the open lease.
Most commonly leasing companies are suggesting open lease for commercial car leases. It is so because, through the open lease, the lessee is paying the difference between the residual and the actual resale value– at the end of the lease.
