Old English tima limited space of time, from Proto-Germanic *timon time (cf. Old Norse timi time, proper time, Swedish timme an hour), from PIE *di-mon-, from root *da-cut up, divide (see tide). Abstract sense of time as an indefinite continuous duration is recorded from late 14c.
Many people don't realize you can buy the vehicle from the leasing company at any time. This is called an early buyout and in some cases, it's a great way to get out of your lease if you can find a buyer for the car. The first thing you need to do is find out the payoff or buyout amount of the vehicle from the leasing company. Always make sure to deal with the leasing company directly and not a dealership.
To lease a car, you simply make a small down payment â less than the typical 20% of a carâs value youâd pay to buyâ followed by monthly payments for the term of the lease. When the term expires, you return the car. Leasing a car has some drawbacks, however. Among them: â¢ You donât own the car when your lease expires. You essentially rent, not buy, the car. So you donât have equity in the car to use toward the purchase of another vehicle. â¢ Over time, say 10 years, the cost of leasing several cars will likely exceed the purchase price of a new or used car. â¢ Lease terms can carry steep penalties. You may have to pay penalties if: