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Since the car is not owned by the lessee, the lessor needs assurance that the lessee will reliably fulfill their payment obligations throughout the lease term. Unlike buying, leasing involves the lessee using an asset that the dealer or the lender still owns. This difference requires stringent credit requirements for lease customers.
A car lease is a contract between a leasing company or dealership (the lessor) and an individual or business (the lessee). But while there are many pros to taking over an existing car lease, there are some cons to be aware of. What is a car lease?
Rivian finally started offering leases for its electric R1T pickup in 14 states on Monday, and these leases are eligible for the full $7500 federal EV lease credit – in contrast to the $3750 credit that Rivian buyers are eligible for. Read more.
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