A Closed End Lease is available for those companies that want a “walk-away” lease product. Under a closed end lease, the lessor assumes the residual risk while the lessee is charged a periodic, usually monthly, fixed lease payment. At the end of the fixed lease term, the lessee may have a renewal or purchase option. Lessee will be responsible for any excess mileage above the original agreed annual mileage; cost may vary from ten cents per mile to thirty five cents per mile depending of vehicle. Along with mileage you may have reconditioning costs above the first $250.00 which is considered normal wear and tear. Vehicles terminated prior to the end of original lease term, the lessor will determine the payoff balance.

Executive works closely with each client to determine the exact mileage and terms for each leased vehicle.