Leasing Term # 16 – Automatic Renewal
Automatic Renewal is an end of lease option that automatically renews a lease for a few or for many months. If you fail to give written notice to the leasing company during the approved Notification Period, the lease renews at the same payment as during the original lease term.
Leasing Term # 157(c) – Notification: End of Lease Notice
Part 3 of the required notices for your leases – the end of lease. At the end of an equipment lease you usually have three options: purchase, renew or return. But be careful! Slip up on your leasing company’s notification requirements and you could get stuck where you don’t want to be!
Leasing Term # 128 – Late Payment Fee
Late Payment Fees: It’s not just one fee. Additional fees may be assessed, then it’s double trouble. You can learn what fees are assessed and how to negotiate them to avoid paying too much.
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