Leasing Glossary

GLOSSARY OF LEASING TERMS

A

Advance Rental

Accessories

I

Interest rate

IRD (Inland Revenue Department)

B

Balloon Payment

L
Lessor
Lessee
Lease to own
Lease rate

C

Capital Cost

CCCFA

Consumer Credit Sale Agreement

Credit approval

M

Maintenance

Master Lease Agreement

D

Deposit

Delivery costs

Depreciation

Default charges

O

Operating Lease

ORC (On-Road-Costs)

E

Early termination

Excess usage

Excess wear and tear

P

Purchase option

F

Fair wear and tear

Finance Lease

Final lease payment

Funder

FBT

Full maintenance

R

Residual Value

G

GAP Insurance

GST

S

Sale & Leaseback

Seasonal Lease Rental

Structured Lease Rental

H

Hire purchase

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