Walk away lease

Walk away lease

A common car lease also known as a closed-end lease. The lessee may return the car at the end of the lease term, pay any end-of-lease costs, such as the disposition fee, and the lease agreement is over and not be responsible for the difference of the actual value of the car.

Walk-away lease

Walk-away lease, also known as a closed-end lease, is an agreement that allows one party to use a second party's property temporarily, without any obligation to purchase the property at a later date. Walk-away leases are common in auto leasing, because they provide the lessee with the option to return the car at the end of the lease arrangement.