One of the best car leasing secrets is to know what a finance deal really is. Knowledge of any kind of lease is what will help you make the right choice and decision with what kind of lease plan you want to sign up for.

So what is a finance deal? It’s a rental agreement. In this agreement the vehicle is owned by the finance provider or the lender (it could be a bank or any other finance institution) and it is “lent” to the user for a set term and for set monthly price. The user will have full use of the vehicle which has a predetermined residual value. This deal is also known as a car lease, auto lease, vehicle lease or asset lease; it’s one of the valuable car leasing secrets that you have to break down to better understand the mechanics of this business model.