Leasing Terms

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Automobile & Equipment Lease Financing

American National Leasing Company offers automobile and equipment lease financing products that are all designed with one thing in mind, and that one thing is You. Our goal is to provide you with service that exceeds all other standards. Quite simply, we want to be your vehicle and equipment agent for life.

We lease all makes and all models of Cars, Trucks, Vans and Sport Utility Vehicles, both foreign and domestic.

American National Leasing Company also provides lease financing to meet your equipment needs. Even if your requirement is for a very specialized piece of machinery or tool, we can develop a Lease product that can also meet your needs.

The AmeriLease is American National Leasing Company’s personal approach to providing a Lease that is custom designed to meet your every need. It is also knowing that the person whom you just shook hands with is the one that considered your prerequisites and used that information to design your AmeriLease.

It’s not just a couple of pieces of paper that we both sign. It is our reputation and our commitment.

Common Leasing Terms & Conditions

Below is a listing of common terms used in leasing that can be somewhat unique to the industry. Following each word is a “working” definition for how that term applies to automobile and equipment leasing.

Capitalized Cost

This is the cost of the vehicle or equipment written into the lease, including title and registration fees and other costs included in the lease contract.

Depreciated Value

This is the estimated value of the asset at the end of the lease.

Depreciation: This represents the vehicle or equipment’s decline in value over time. (Mathematically speaking: Capitalized Cost – Residual Value = Depreciation)

Disposal

Is the process of selling the vehicle when it is returned.

Early Termination

This is when a lease is ended before the lease-end date or maturity. This is also called Premature Termination or “Pre-term”.

Equity

Represents owing less money on an asset than the determined value of that asset.

Lessee

This is you. The person or entity with the legal authority or right to use the leased asset.

Lessor

This is the leasing company. Represents the entity which has right of ownership to the leased asset.

Money Factor

This represents the cost of financing the car and usually means the interest rate charged divided by the number of months in the lease term. So, a money factor of .001625 in a 24 month lease is the equivalent of a 3.9% rate on an auto loan.

Premature Termination

See Early Termination above.

Premature Termination Factor

This is the dollar amount (specified in the lease) to be multiplied by the number of months remaining in the lease to help determine the Early or Pre-term Payoff of the lease.

Rent Charge

This represents the cost of financing the lese asset. The Rent Charge is usually expressed as the gross amount of finance charges paid over the life of the lease.

Residual Value

See Depreciated Value above.