Q: Who is the lessor?A: The dealer or the leasing company who leases the vehicle to you, the lessee.
Q: What is “lease end residual value,” “lease end value”, or guaranteed future value”?A: They are the same. The value is set by the lessor at the start of the lease. It varies according to the lease term, mileage allowance and the make /model of the vehicle. This value is estimated at the fair market value of the leased at the scheduled end of the lease.
Q: What is the “purchase option”? A: This gives you the option to buy the vehicle at the lease end for a predetermined price. The purchase option is always negotiable.
What is certificated Pre-Owned Car
Q: What is used and certified Pre-Owned Car? A: It depends on the coverage once original new car warranty expired (run out).
Q: Who certifies Pre-Owned vehicles? A: A Pre-Owned, vehicle can be certified by the Car Dealer or the Manufacturers.
Q: What include in the certification inspection? A: The Vehicle details included in a certification Inspection may vary from provider to another.
Q: What ius covered by a certified Pre-Owned warranty? A: The extent of Pre-Owned Car Warranty coverage various;
Some Car Manufacture offer Certificated Pre-Owned Car with comprehensive limited Warranty, and Free Towing.
One has to check the appropriate Car Dear/Manufacturers before purchasing a Certified Pre-_owned, Vehicle ask all these question and see where can be serviced.
Then compare with a used car or Demo, or New Car or Leasing.