E&C – Module 9 Quiz – Brown & Brown Dealer Services

Which of the following best describes a vehicle lease?

The customer finances the full purchase price of the vehicle and owns it at the end of the term.
The customer pays only for taxes and registration fees during the lease term.
The customer generally pays for the vehicle’s depreciation during the lease term, plus rent charge, taxes, fees, and other lease obligations.
The customer is guaranteed the right to cancel the lease within three days.

Which item is commonly considered an end-of-lease charge?

First monthly payment
Disposition fee
Capitalized cost reduction
Acquisition fee

A finance manager may describe a lease money factor as an APR if it helps the customer compare the lease to a retail installment contract.

True
False

True or False: A “$0 down” lease advertisement may still be misleading if the customer must pay the first monthly payment, taxes, registration fees, acquisition fee, or other amounts at signing.

True
False

E&C – Module 9 Quiz

E&C – Module 9 Quiz

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