Definition
A long-term rental agreement for an electric vehicle, where the user pays a monthly fee for the use of the car over a fixed period, typically with mileage restrictions. At the end of the term, the car is returned to the leasing company.
Why it matters (in Poovi’s context)
The core topic of the video, providing current deals and analysis on leasing electric vehicles.
Key properties or components
- Monthly payments
- Upfront costs (initial rental)
- Mileage limits
- Lease duration (e.g., 2, 3 years)
- Contract mileage (e.g., 10,000 miles/year)
- Wear and tear policies
Contradictions or debates
None.