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What is a succeeding lease?
Both succeeding and superseding leases establish new terms and conditions and result in a new lease contract with an existing Lessor. Succeeding and superseding leases are distinguished from other lease actions to fulfill a continuing need for space, such as a replacing lease.
Is lease option to buy a good idea?
A lease-option-to-buy arrangement can be a solution for some potential homebuyers, but it's not right for everyone. If you're not certain that you're going to be able to purchase the rental home at the end of the lease period, you might be better served with a standard rental agreement.
Is lease to own a good idea?
Unfortunately, rent-to-own is not always a good deal. If the tenant decides not to purchase the house at the end of the rental term, none of the extra money that he paid to the seller comes back to him. So he would have paid above market value for a rental and have no extra cash to show for it.
Is Lease Purchase a good idea?
A lease-option-to-buy arrangement can be a solution for some potential homebuyers, but it's not right for everyone. If you're not certain that you're going to be able to purchase the rental home at the end of the lease period, you might be better served with a standard rental agreement.
Why rent to own is bad?
The rent-to-own setup is vulnerable to scams and shady landlords. As the tenant, you take on most of the risk in a rent-to-own contract. You're the one paying more than necessary in rent each month with the promise that the owner will credit the amount toward the purchase price someday.
Is it smart to lease a car and then buy it?
Yes, you can usually buy your car at the end of the lease. You may have to pay taxes and fees. Some fees will be waived (disposition, extra mileage, excess wear-and-tear).
Does lease to own make sense?
In this situation, leasing can make more sense. But if the lease does not require a capital cost reduction, and the monthly payment is still lower than what it would be for the purchase of the same car, then the lease might make sense.
How does a lease with the option to buy work?
A lease to purchase agreement is a home rental lease that includes an option for the renter to purchase the home during the term of the lease contract. The contract specifies the purchase price of the home, and in exchange for the purchase option, the renter pays an upfront deposit.
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