Lease Glossaries
Property leases and car leases use completely different vocabulary, so we keep two glossaries. Every term is listed below — pick the one on your contract and read it in plain English.
Rental Lease Glossary
11 lease clauses explained
Automatic renewal, joint and several liability, right of entry, security deposits, and more.
- Automatic renewal clause
- Joint and several liability
- Waiver of right to jury trial
- Right of entry
- Security deposit
- Late fees
- Subletting clause
- Quiet enjoyment
- Holdover tenancy
- Notice to vacate
- Rent increase clause
Car Lease Glossary
15 car-lease terms explained
Money factor, residual value, capitalized cost, mileage allowance, disposition fees, and more.
- Money factor
- Residual value
- Capitalized cost
- Mileage allowance & overage fees
- Disposition fee
- Acquisition fee
- GAP coverage
- Excess wear and tear
- Early termination
- Lease buyout / purchase option
- Cap cost reduction
- Buy rate
- Lease transfer (assumption)
- One-pay lease
- Subvented lease