Lease Terms & Fees Crossword Puzzle

QUESTIONS LIST:

• net cap cost: the manufacturer's suggested retail price minus any manufacturer's discounts, customer down payments and trade net
• use tax: tax on the payment in the lease.
• residual value: a vehicle's estimated worth at the end of a lease term.
• cap reduction: monies put down to lower the depreciation in a lease
• lease: a long term rental agreement - more than 120 days.
• termination fee: fee charged by lender as a penalty for terminating a lease contract early.
• disposition fee: fee charged by the leasing company to clean and repair any minor damage on a vehicle for better resale value.
• lessee: the individual leasing the vehicle.
• non capitalize: items added into the customer cash due and are paid for by the customer at the time of lease signing.
• depreciation: this is the basis of the monthly payments. (net cap cost - residual = depreciation)
• capitalize: the amount the car is actually being financed for during the term of a lease
• acquisition fee: an administrative fee charged by the leasing company at the start of a lease.
• lessor: the owner of the vehicle that will be leased.