In which of the following situations would you have to pay additional money when returning a vehicle using a closed-end lease?
A)Residual value is less than expected.
B)Residual value is more than expected.
C)Mileage limits were exceeded.
D)Both a and c apply.
E)Both b and c apply.

Question

Quizplus · Accepted Answer

Mileage limits were exceeded with a closed-end lease, which means you will have to pay additional fees or charges. If the residual value is less than expected, it won't affect your payment, but if it's more than expected, it might lead to a larger payment in the long run.

In Which of the Following Situations Would You Have to Pay