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Tanman70,
That's one type of lease. You can also have leases that have a FMV (Fair Market Value), 20%(of original purchase price), 10% or $1.00 buyouts. We can even customize your buyout at the end.
BUT - the one very important thing to remember is - If you're expecting a specific buyout at the end of the lease - GET IT IN WRITING BEFORE YOU SIGN. This will prevent all of all problems mentioned here!
There are companies ALTHOUGH MINE IS NOT ONE, that tell you there's a specific buyout and then don't provide the buyout letter. It's those customers that are vulnerable at the end of their leases. It kills me when people tell me that they were taken advantage of at the end of their lease. I always ask them if they got a buyout letter - and the answer is always the same - "no." I can't believe there are people that would take advantage of customers like that.
I tell people that the reason we put it all in writing is to make things easy throughout the entire term of the lease - now, and at the end.
Rob Wade
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