Closed-end leasing is a contract-based system governed by law which is specific to the U.S. and allows a person the use of property for a fixed term, and the right to buy that property for the agreed residual value when the term expires.
Closed-end leasing is a contract-based system governed by law in the U.S. and Canada. It allows a person the use of property for a fixed term, and the right to buy that property for the agreed residual value when the term expires.