What is an open-end lease?
The Bankrate.com financial term of the day is: "open-end lease."
An open-end lease, sometimes called a finance lease, is a bet that can pay off in a lower expense when you lease a car. Your monthly payments are reduced, but there's a risk that you'll have to come up with more money when the lease runs out and it's time to turn in the car. With your payments, you're wagering that the company leasing the vehicle to you will be able to get X amount of money for it when you're done with it. But if an appraisal comes up with a lower value at the end of the lease, you'll have to make up the difference.
With an open-end lease, you roll the dice on a lower monthly payment for a new vehicle. Your gamble can pay off -- or backfire.
For all you need to get yourself rolling in a new set of wheels, visit the Auto section at Bankrate.com.
New car loan rates fell 1 basis point each.
Used car loan rates keep getting better.
Both new and used car loan rates shifted lower this week.
Rates on auto loans were mixed this week.
It pays to pick a vehicle that holds its resale value. Jean Chatzky tells us how to find one.
How did consumers respond when asked about job security, savings, net worth, and debt?
Comparison shopping will help you know deals from duds at a dollar store.
Looking to save money? Here are eight easy ways to save $5,000 in one year.
Mortgage rates jumped this week.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.
While gas prices have dropped dramatically, the sales of diesel cars has continued to grow, rising 13.5 percent in 2014 over 2013, according to the latest data compiled by IHS Automotive for the Diesel Technology Forum.
... Read more