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Automotive dictionary (encyklopedia)

Dictionary of terms and abbreviations for cars (automobiles), motorcycles (bikes),
bicycles, boats, engines, machines, machining and car fixing.

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Open end lease

With an open-end lease, there is still a residual value set at the beginning of the lease. However, if the car is worth less than the residual value at the lease's end, the lessee must pay the difference. In other words, the lessee assumes the risk for depreciation with an open-end lease.
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Car Insurance FAQs #1

What are Car Financial Responsibility Laws?

This is the law that says you have to prove that you are financially able to pay for anything you may be responsible for while driving your car. The easiest way of showing this is by having car insurance and that is what the majority of people do to comply with this law. Some states to have other ways that one can show financial responsibility such as giving a large cash deposit for the DMV.

What Happens if I Choose Not to Purchase Car Insurance and Still Drive My Car?

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