Car Leasing Guide – Definition of terms used in car lease secrets

Here is a compilation of car terms that we think you will find helpful as you research your next purchase. These are common terms that you might come across while shopping for your next vehicle. Contact us if you feel there is something that should be included in our glossary, and we will definitely consider your suggestion.

implied interest(a.k.a lease fee or charge)
The cost of a leased vehicle, not considering any form of depreciation.

inception fees
Lease dues at the time of a lease signing.

inception/lease inception
The outset of a lease

indemnity
In car leasing, it is a contract provision that frees the lessor from charges incurred by the lessee

independent suspension
An arrangement in which the left and right wheels are attached independently to the chassis instead of on a single axle.

initiation fee(a.k.a acquisition fee)
The lessor's fee paid to start a lease.

intercooler
Part of the car that cools the air compressed by supercharger or turbocharger

interest rate (leasing)(a.k.a. money factor)
A fractional number needed to calculate a lease fee