What does car lease-purchase mean?

[ThomasLynn]

Car lease-purchase refers to a long-term leasing arrangement where the customer pays monthly rent, and upon the expiration of the lease term, the ownership of the vehicle is transferred to the customer. The risks of car lease-purchase are as follows: Rent disputes: The vehicle may be forcibly repossessed by the merchant due to failure to pay the rent on time. Contract disputes: If the buyer cannot afford the rent, the vehicle may be repossessed by the merchant according to the contract. The buyer not only loses the car but also bears the liability for breach of contract. Lease-purchase contracts are generally standard form contracts, which often disadvantage the buyer. Ownership transfer disputes: Ownership is transferred only after the full payment of the vehicle, during which many issues may arise, such as the merchant refusing to cooperate with the transfer or demanding additional fees for the transfer. The repayment period for lease-purchase is usually long, and there is also a possibility of changes in the merchant's circumstances.