If you plan to purchase the vehicle at the end of the lease period,you would pay the actual cash value if your lease was closed-end.

Name: If you plan to purchase the vehicle at the end of the lease period,you would pay the actual cash value if your lease was closed-end.
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Question

Quizplus · Accepted Answer

In a closed-end lease, you would pay the residual value (pre-determined purchase price at the end of the lease term), not the actual cash value, if you decide to buy the vehicle.

If You Plan to Purchase the Vehicle at the End