Description	Term
This is the price at which the lessee (consumer), can purchase the car after the lease has expires.	Purchase option
This is the value of a leased asset at the end of the lease period.	Closed-end lease
This refers to the price of the asset (for example, a car) that is being leased.
This agreement, which is used to purchase a car, details the offering price and all conditions of the offer; when the buyer and seller sign it, it establishes the terms of the legally binding transaction.
This lease transaction, often called a walk-away lease, allows the lessee to merely return the vehicle at the end of the lease periodassuming that the preset mileage limit has not been exceeded and the vehicle hasnt been abused.