Term Answer Rebate A. Description This agreement, which is used to purchase a car, details the offering price and all conditions of the offer; when the buyer and seller sign it, it establishes the terms of the legally binding transaction. This term refers to the estimated value of a leased asset at the end of the lease period. Purchase option Lease This is the price at which the lessee (consumer), can purchase the car after the lease has Depreciation D. Closed-end lease Sticker price E. F. expires. This is a lease agreement that allows the lessee to return the asset (for example, a car) at the end of the lease term without any consequent payments if the terms of the contract have been fulfilled. This is a partial refund offered to attract the buyer to purchase the vehicle. This refers to the loss in the value of an asset that occurs due to the wear and tear of the asset over a period of time. This is the advertised retail price listed on a particular vehide for sale. This refers to the practice of quoting a low price of an asset that is below the actual price of the asset and then adding costs that result in an increase in the price of the asset prior to the signing of the contract. This is an arrangement wherein the lessee receives the use of an item, such as a car or a house, in exchange for scheduled payments for a fixed period of time. This refers to the price of the asset (for example, a car) that is being leased. Residual value Low-balling G. H. Capitalized cost Sales contract