A lease that gives the lessee the option of either buying the car at the end of the term at a set price or walking away without liability for any unexpected reductions in the vehicle's value (oth [..]

Walk-away lease, also known as a closed-end lease, is an agreement that allows one party to use a second party's property temporarily, without any obligation to purchase the property at a later d [..]

Another name for a closed-end lease. A leasing contract in which the residual value, or final value, of the vehicle at the end of the term, has been specified. The lessee is not required to buy the ve [..]

A lease that gives the lessee the option to buy or walk away without liability at the end of the lease term. Though it’s the most common kind of lease, always verify that your lease is a walk-away lease.

See Closed-end lease.

See