Another name for a closed-end lease is a(n)
A)take-out lease.
B)walk-away lease.
C)end-purchase lease.
D)terminal lease.
E)none of the above.

Question

Quizplus · Accepted Answer

A closed-end lease is also known as a walk-away lease because at the end of the lease term, the lessee can simply return the vehicle and walk away without any further financial obligations. The other choices (take-out lease, end-purchase lease, and terminal lease) are not commonly used terms to describe a closed-end lease.

Another Name for a Closed-End Lease Is A(n)