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Auto Lease Acquisition Fee
- A lender charge associated with auto leasing. Charged by the bank
to assess the lease. Typically used to cover administrative fees.
Auto Lease
- A method of financing a car. Rather than an auto purchase, you
essentially rent a car for a predetermined period of time. At the
end of the car lease, depending on your car lease agreement, you can
return or purchase your car.
Auto Lease
Agreement - The contract that defines the terms and
conditions of a car lease.
Auto Loans
- A loan to pay for the purchase of a new or used vehicle.
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Auto Lease
Balloon Payment - The residual portion of
lease/finance agreement due at lease or loan maturity. Most banks
and leasing originations will offer refinancing of balloon payment
if desired.
Auto Lease
Base Monthly Payment - The portion of your
monthly car payments that goes to depreciation over the life time
your auto lease. It is calculated as (Net Capitalized Cost Residual)
/ (the number of months in a vehicle lease).
Auto Lease Best
Car Lease Deal - A lease where the auto lease
company offers a special deal on a car lease. For example, where the
car sale price is discounted, the car lease company offers a vehicle
rebate, or the loan interest rate is low. Often best car lease deals
are offered for cars that have a low depreciation, such as Honda,
Mercedes or Lexus.
Auto Lease
Blue Book Value - The wholesale price that
an auto dealer pays to buy a used car, which is published by Kelley
Blue Book.
Auto Lease
Body Type - The distinguishing
characteristics of a car, such as the number of doors, windows, way
it carries cargo (hatchback, sedan, fastback, sport, etc.)
Auto Lease
Broker - A professional that represents a
buyer and/or seller and assists in negotiating the contract.
Auto Lease
Business Lease - A car lease of one of more vehicles
for commercial purposes.
Auto Lease
Buy Lease - A type of comparison that
calculates monthly car lease and auto loan payments, as well as
total lease costs versus the total costs for purchasing a car.
Auto Lease
Buy Leased Car - Either the buyout of a car
at the end of your lease, or buying a car that was previously leased
by someone else.
Auto Lease
Buyer's Market - An economic market where
conditions are in favor of the buyer.
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Auto Lease
Capitalized Cost - The total selling price
of a leased vehicle including, tax, title, license, state and dealer
fees and negative equity after equity or money down reductions.
Associated with auto leasing.
Auto Lease Capitalized Cost Reduction - The
amount of money you put down on an auto lease, including cash and
trade equity.
Auto Lease
Car Buying Services - State licensed
organizations who facilitate the acquisition of a new or used
vehicle at a lower price.
Auto Lease
Car Lease - See auto lease.
Auto Lease
Car Lease Assumption - When you end a car
lease before the term is over and have someone else take over your
lease.
Auto Lease
Car Lease Deal - The special offers made by
a leasing company to promote car leases. For example, where the sale
price is discounted, the car lease company offers a rebate, or the
interest rate is low.
Auto Lease
Car Lease Refinance - Termination a vehicle
lease to begin a new lease for the same vehicle. Usually done to
lower payment.
Auto Lease
Car Lease Swap - The transfer of an auto
lease to another party, such as a leasing company, before the lease
is finished.
Auto Lease
Car Lease Termination - When you end a car
lease before the lease contract date.
Auto Lease
Car Lease Trade - Trading a car that is
still under lease, but whose term hasn’t been reached, for another
leased car.
Auto Lease
Closed End Lease - Type of lease that
affords you the options to either buy the vehicle at lease maturity,
or you return it with no further obligation.
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Auto Lease Dealer Holdback
- A factory to dealer monetary disbursement that usually takes place
at the end of the fiscal year. Most dealers do not consider this
profit since specific volume goals may affect payout.
Auto Lease
Depreciation - The amount a vehicle
decreases in value over time, based on mileage, market conditions,
wear and tear and other factors.
Auto Lease
Disposition Fee - A car leasing company fee
charged at the end of an auto lease to refurbish a car for resale.
Auto Lease
Due at Signing - The amount of money you
need to pay to a car leasing company when an auto lease is signed.
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Auto Lease
Early Termination Fee - A fee charged by car
leasing companies for ending your car lease before the end of the
predefined lease term.
Auto Lease
Excess Mileage - The number of miles driven
in excess of a specific number defined in your car lease.
Auto Lease
Excess Wear & Tear - A level of physical
wear on a car in excess of a level defined in your car lease.
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Auto Lease
Financing - A way to raise funds or capital
for buying a new car, getting a mortgage on a house, or making
purchases on a credit card.
Auto Lease
Fixed Expenses - Expenses that are paid each
month and that remain the same, such as mortgage, school tuition,
car insurance, etc.
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Auto Lease
Capitalized Cost - The total selling price
of a leased vehicle including, tax, title, license, state and dealer
fees and negative equity before equity or money down reductions.
Associated with auto leasing.
Auto Lease
Guaranteed Loan - When a lender offers a
loan with the understanding that the loan is guaranteed to be repaid
by another party if the borrower defaults.
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Auto Lease
Household Income - The total income made by
all individuals in a household. This includes: salaries, bonuses,
child support, social security, unemployment, etc.
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Auto Lease
Lease Inception Cash - The total amount of
money you need to pay when starting a car lease. This includes first
month's payment, any tax and title fees, your down payment (e.g.,
capitalized cost reduction), and security deposit.
Auto Lease
Lease Luxury Car - Where you lease a
high-end and more expensive vehicle, which has a lower depreciation,
rather than buying a car outright.
Auto Lease
Lease Residuals - The value of the car at
the end of the lease based on MSRP.
Auto Lease
Line - The manufacturer name for a family of
cars with certain features in common, such as body type, cab type,
chassis, etc.
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Auto Lease
Make - A vehicle's manufacturer name.
Auto Lease
Model - The manufacturer name for a group of
cars of the same body type, make, line, and series.
Auto Lease
Model Year - The year that a specific model
of car was released by a manufacturer. Note: This can cover a
two-year period.
Auto Lease
MSRP - Manufacturer's Suggested Retail Price
for an auto. This is also called "sticker price.”
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Auto Lease OEM
- Original Equipment Manufacturer. Can be associated with
pretty much anything on a vehicle, or the vehicle itself. |
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Auto Lease
Purchase Agreement - A contract signed by
the buyer and seller that indicates the conditions under which an
item or property will be sold.
Auto Lease
Purchase Contract - An agreement between the
buyer and seller that indicate the prices and terms of the sale of
the property or item.
Auto Lease
Purchase Option Fee - The fee charged if the
person leasing a car decides to buy the vehicle at the end of the
car lease.
Auto Lease
Purchase Option Price - The selling price of
your car if you buy it at the end of a car lease.
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Auto Lease
Qualifying Ratio - The ratio of fixed
monthly expenses to monthly income. This ratio is used by lenders to
determine how much to loan to a homebuyer.
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Auto Lease
Refinancing - Paying of one loan with the
proceeds from a separate loan that is secured by the same property.
Auto Lease
Residual Value - The amount your car leasing
company estimates your car will be worth at the end of your car
lease, generally defined as a percentage of MSRP.
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Auto Lease
Security Deposit - A payment made prior to
entering an auto lease that is, usually, equal to one month's
payment as security against excess wear and tear on your car.
Auto Lease
Seller's Market - An economic market where
conditions are in favor of the seller.
Auto Lease
Series - The manufacturer name for a subtype
of car model, which indicates price, size and specific features.
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Auto Lease
Term - The time period for which a loan must
be repaid.
Auto Lease
Trade-in value - The value that a car
dealership will give you for your existing car as a deposit on a new
car.
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Auto Lease
Upside down car loan - Where the amount of a
car loan is more than the value of a vehicle.
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Auto Lease
VIN number - A unique descriptive number for
each vehicle made. Also called the Vehicle Identification Number.
Assigned by the Original Manufacturer to identify it from any other
and contains information about the vehicle such as year built,
features and location of production.
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Auto Lease
Wear and tear - The normal damage done to a
vehicle over its lifetime.
Your privacy is important to us!
This document sets out
the policies of Austin Auto Leasing, (Austin Auto Leasing) regarding the protection of the rights of persons to privacy. Its purpose is to explain to contacts and all others who deal with Austin Auto Leasing
and what types of personal information Austin Auto Leasing collects and how that information is used. This policy reflects no commitment by, nor is it binding upon any party or parties other than Austin Auto Leasing. At times, Austin Auto Leasing collects certain personal information about people with whom it deals, either in their personal capacities or as representatives of client institutions, vehicle and lease financing vehicle and lease financing suppliers or other businesses. Such people are referred to in this policy as "Interstate Auto
Leasing's contacts" or as simply as "contacts". Austin Auto Leasing collects identifiable personal data as well as non-identifiable personal information. Items of identifiable personal information, such as names and contact details, are collected and used as a matter of course in Interstate Auto
Leasing's daily work. Often a person’s identifiable personal information includes the role or roles the person plays on behalf of his or her employer in the employer’s business relationship with Austin Auto Leasing. Austin Auto Leasing’s Information Manual describes how any person may request Austin Auto Leasing to provide a copy of all personal information held by Austin Auto Leasing about that person. The Information Manual can be read or downloaded from Austin Auto Leasing’s web site
(www.InterstateAutoLeasing.com).
Collection of Personal Data .Austin Auto Leasing collects personal data about contacts. Contacts include those employees of client institutions with whom Austin Auto Leasing will deal in the normal course of business. This information is collected when institutions first procure services from, or enter into an Service Agreement with Austin Auto Leasing, when they instruct Austin Auto Leasing, as their provider or Agent, to provide services or undertake service procurement or other actions on their behalf. Contacts also include persons within supplier and other organizations with which Austin Auto Leasing has a business relationship – i.e. persons that work for vehicle and lease financing vehicle and lease financing suppliers, or other organizations. Austin Auto Leasing does not collect personal information about end users of client institution’s networks, i.e. "where you work", unless needed to provide service. Use of Personal Data. Austin Auto Leasing uses personal information to ensure effective business communications with contact persons that represent client institutions, vehicle and lease financing vehicle and lease financing suppliers and other organizations with which Austin Auto Leasing has dealings. In its capacity as the agent of client institutions, Austin Auto Leasing provides personal information about contact persons of client institutions to vehicle and lease financing suppliers, where the supplier needs to use this information to communicate directly with the client institution. For example, Austin Auto Leasing supplies the contact details of site managers to third party vendors when third party vendors has been instructed by Austin Auto Leasing to install or upgrade a data communications service to that site. Similarly, Austin Auto Leasing provides contact details of vehicle and lease financing suppliers’ personnel to client institutions where this is needed for the furtherance of the business relationship. Confidentiality. Austin Auto Leasing respects the privacy of the individual and undertakes to protect the confidentiality of personal information about contacts that is supplied in the course of business relationships with Austin Auto Leasing. Austin Auto Leasing undertakes to use personal information solely for the purposes described above, and will not otherwise, unless legally obliged to do so, provide personal information to third parties. Reservation of Rights. Austin Auto Leasing reserves the right to disclose personal information in its possession where it is required to do so by law or to exercise its legal rights or to defend itself against legal claims. Austin Auto Leasing reserves the right to make changes to this privacy policy. Where a major change is made, contacts will be informed by e-mail notification or through a notice on our website. Contacts
share the responsibility to read the changes.
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