early termination

A vehicle's depreciation is highest in the first few months after it leaves the dealer's lot. Since a lessee pays for depreciation in equal monthly payments, lessees who end a lease early have almost always used up more of a car's value than they've paid for. Therefore, lease contracts generally include penalties for early termination. Be aware of these penalties before you sign the lease contract and consider your ability to fulfill the contract.

Dictionary of automotive terms. 2015.

Look at other dictionaries:

  • Termination fee — A termination fee is a charge levied when a party wants to break the term of an agreement or long term contract. They are stipulated in the contract or agreement itself, and provide an incentive for the party subject to them to abide by the… …   Wikipedia

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  • termination — See early termination …   Dictionary of automotive terms

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  • Termination of spoken Sanskrit — Classical Sanskrit became fixed with the grammar of Panini (roughly 500 BC), and remains in use as a learned language until the present day. Over the centuries, the Prakrits underwent language change to a degree that vernaculars and Sanskrit… …   Wikipedia

  • early — {{Roman}}I.{{/Roman}} adj. VERBS ▪ be, feel, seem ADVERB ▪ extremely, fairly, very, etc. ▪ …   Collocations dictionary

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