At Admiral Leasing we can provide flexible leasing options to suit your business needs. We offer fleet accounts the choice of either a Closed-end Lease or an Open-End Lease.
A Closed-end Lease is where the lessor assumes the cost of depreciation. You only pay for that portion of the vehicle's useful life that you use. The lease is tailored to the term and mileage that best suits your needs. Typical terms are 24-36 months, although longer or short terms are available. At the end of the lease the vehicle is returned to us, assuming normal wear and tear, you do not have any responsibility for its resale value.
An Open-end Lease, also known as a finance lease, is available to commercial fleets. At the end of the lease, you either buy the vehicle for the agreed upon lease-end price, or assume the responsibility for its resale value, paying any shortfall or receiving any gain in the event you do not purchase the vehicle at lease end.