Confirmation of acceptance
The lessee declares in the signed declaration of acceptance that the leased asset ordered has been delivered completely and in a faultless condition. The actual contractual period begins upon delivery and confirmation of the asset's operability; the lessee begins payment of the monthly instalments at this time.
Costs of purchase
The costs of purchase refer to the purchase price paid for the asset. They are the basis used to calculate the monthly leasing payment.
The cash value is the calculated, discounted value of future payments. What this means in leasing is the sum of all leasing instalments, including residual value and calculated discount.
A creditworthiness check – also known as credit rating – is always conducted before a leasing agreement is concluded. It is used to analyse whether the lessee will remain solvent throughout the entire term of the leasing agreement. This is necessary to ensure that the lessee does not amass excessive debt, but also as a means of protecting the lessor.
Among other things, a Car Policy defines which groups of employees within a company are entitled to use which vehicle categories and services. In many cases a Car Policy will also define CO2 limits to give suitable consideration to the aspect of environmental protection.
Company leasing describes an agreement with a legal person as lessee. Tax and financial reasons (especially if one considers the off-balance sheet provisions) make leasing particularly interesting for companies.
Closed calculation, based on flat rates sums, is used to account for costs in full service leasing. It involves defining a constant monthly flat rate for a certain service component. The leasing company carries any amounts incurred in addition to the monthly flat rate. This means that the risk of additional costs lies with the lessor.
Corporate leasing is another term for company leasing. Unlike private leasing, in which the lessor is an individual, it describes a service provider-customer relationship between the lessor and a legal person.