What is Lease Inception?
by admin on 3-23-2011 • Tags: business car leasing, Caldwell Leasing, down payment, fleet management & maintenance company, lease inception, lease payment
As you come to the final stages of your leasing agreements, you may be confused by the various charges and payments that need to be made. Your lease payment is scheduled and you must also write a check before taking over your vehicle. How is all the money applied to your lease?
At the time you sign the papers for your vehicle lease, you will be required to make a lease inception payment. This payment includes all the charges that require up-front payment, such as taxes, tag and title fees, deposits, first month’s payment and down payment. Of the charges you are required to pay, the down payment is the only part that is applied to the financed amount of your lease. During your final agreement signing, you will also establish your monthly payment schedule and will then take over your vehicle lease.
It is can be a bit confusing when faced with the various charges and payments and really understanding how, financially, the lease agreement works. If you have selected a management company to offer support through the life of your lease, they can help take the worries out of your lease agreement.