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1998 Saab 9000 CSE | Car, Auto,
Used Cars: Up-Front, Ongoing and End-of-Lease Costs
Note: This section {$} refers only to
open-end leases. In a closed-end lease, your rights and obligations are
different.
Differences between open-end and Car, Auto closed-end leases
Your rights and 1998 Saab 9000 CSE obligations at lease-end are different in an
open-end lease and a closed-end lease. In a closed-end lease, at {$} lease-end
you are responsible for the condition of the vehicle (that is, any excessive
wear and use).
In an open-end lease, you are responsible for the Car, Auto vehicle's value
(that is, any deficiency between the 1998 Saab 9000 CSE realized value and the
residual value). Both types of leases calculate an {$} amount of projected
depreciation, which becomes the basis for calculating your base monthly
payment. The determination of the base monthly payment involves projecting the
Car, Auto future value of the vehicle. At the end of the lease term, the
1998 Saab 9000 CSE actual value may be higher or lower than the projected value.
1998 Saab 9000 CSE | Car, Auto,
Used Cars: Up-Front, Ongoing and End-of-Lease Costs
Early {$} termination charges if your vehicle
is stolen or totaled. When your vehicle is stolen or Car, Auto totaled,
your deficiency or 1998 Saab 9000 CSE surplus will be determined by comparing your
lease payoff with the {$} settlement proceeds from your insurance company. If
there is a surplus, you may receive a refund. Check your lease Car, Auto
agreement to determine the refund policy. However, 1998 Saab 9000 CSE in most cases
there will be a deficiency.
Many lessors offer gap coverage to reduce or eliminate your early {$}
termination charges when the early termination is caused by your vehicle's being
stolen or totaled.
There are two types of gap coverage. One is a waiver by the lessor of the
Car, Auto gap amount after an insurance casualty loss. The other is
1998 Saab 9000 CSE a contract with a third party, which may be an insurance company,
to cover the {$} gap amount. With either type of gap coverage, you are usually
responsible for your insurance deductible and Car, Auto any other amounts
deducted from the insured amount of the vehicle by your insurance company.
Gap coverage applies only in the {$} event of a total vehicle loss through
casualty or 1998 Saab 9000 CSE theft and a determination that the vehicle is a total
loss.