fill in the blank so that the resulting statement is true. the two types of contracts involved with leasing…

fill in the blank so that the resulting statement is true. the two types of contracts involved with leasing a car are called a/an lease and a/an lease.

fill in the blank so that the resulting statement is true. the two types of contracts involved with leasing a car are called a/an lease and a/an lease.

Answer

Brief Explanations:

In the business - related field of leasing, the two common types of car - leasing contracts are closed - end and open - end leases. A closed - end lease has a pre - determined mileage limit and a set residual value, and the lessee typically has no further financial obligation at the end of the lease term if the vehicle is returned in acceptable condition. An open - end lease, on the other hand, leaves the lessee responsible for any difference between the vehicle's actual residual value and the pre - determined residual value at the end of the lease.

Answer:

closed - end, open - end