The Price That Is Paid for a Vehicle in a Lease

question 30

Multiple Choice

The price that is paid for a vehicle in a lease is called the:

• A)residual value.
• B)unit price.
• C)capitalized cost.
• D)deductible.
• E)premium.

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Definitions:

Adjustment

A change or modification made to accommodate a particular condition or situation.

Claim Message

A claim message is a communication, often in business or legal contexts, asserting a right or demanding resolution or compensation for a grievance or problem.

Demanding

Requiring or calling for much time, attention, or effort.

Insurance Snafus

Complicated or mishandled situations involving insurance policies, claims, or coverage, often resulting in confusion or disputes.