what is an open end lease 
an open end lease is a type of rental agreement that obliges the lessee the person making periodic lease payments to make a balloon payment at the end of the lease agreement amounting to the difference between the residual and fair market value of the asset open end leases are also called finance leases often open end leases are used in commercial transactions for example when a moving business procures a fleet of vans and trucks an open end lease may prove to be a better bargain due to the unlimited mileage offered under the terms of a lease 