Closed End Leasing
A closed end lease is a lease agreement that puts no obligation on the lessee (the company or person making lease payments) to purchase the leased asset at the end of the agreement. Also called a “true lease”, “walkaway lease” or “net lease”.
Since the lessee has no obligation to purchase the leased asset upon lease expiration, that person or company does not have to worry about whether the asset will depreciate more than expected throughout the course of the lease. These leases will include a mileage limitation to allow the leasing company to price more accurately.
Open End Leasing
With an open end lease, the lessee assumes the risk for the residual value at the lease end term. This option generally provides for lower monthly payments, although a weak resale market could create a higher risk of owing money at lease end.
At the end of the lease term, the lessee pays the difference between the vehicle sale price and the depreciated book value. While there are no excess mileage or abnormal wear and tear charges, these costs will be reflected in a lower residual value.
If You Can Find It,
We Can Lease It!
Apply online to get started with your new vehicle
If you submit this application during our regular business hours which are 9am-5pm (PST) Monday through Friday, we will normally contact you within 24 hours of submitting the application. If you submit this application during our non-business hours, we will contact you on our following business day. If you have any questions during any part of the process please call us at 323-692-7022 or email us at: email@example.com
Expat / Foreign Leasing
We are happy to offer leasing options to foreigners visiting the U.S. for employment. Our program offers a solution to the often difficult process of finding transportation without a U.S. credit score.
Midway Fleet Leasing and Midway Car Leasing offer leasing on pre-owned vehicles. In many cases, used car leasing can lead to lower payments than an equivalent new vehicle. Pre-owned leases also can offer an alternative to used car financing.
Short Term Leasing
Lease terms as short as 12 months are available as an option for lessee who like to change vehicles often or for special circumstances.