Before you move on to the other chapters, be sure to read the following terms and definitions so you will be able to understand the unusual language of leasing.
Acquisition fee: Fee charged by the leasing company to buy a vehicle and set up the lease. Sometimes negotiable. Also called “initiation fee.” Typical charge: $450 Cap [...]

As the founder of a large lease-training company once said, there is an opportunity to take advantage of the customer in a lease. Since poorly-written consumer finance regulations did not require disclosure of important lease information (including the vehicle price or the interest rate), leasing companies and dealers didn’t provide it. This gave unscrupulous salesmen [...]