What does the vehicle purchase option price mean?

[VonLola]

Purchase option price refers to the residual value or contractually agreed value that the lessee pays to obtain ownership of the leased asset after the lease relationship terminates. According to legal or contractual provisions, upon termination of the lease relationship, the lessee acquires ownership of the leased asset by paying its residual value or the value stipulated in the contract. This payment amount is called the purchase option price. Additional information: 1. On-the-road price of a vehicle: This refers to the total cost incurred from purchasing a vehicle until its registration, which includes not only the ex-factory price but also purchase tax, vehicle and vessel usage tax, insurance fees, and license plate fees. For vehicles purchased through loans, it additionally covers 4S store service charges, GPS fees, auto loan interest, and other expenses. 2. Vehicle tax rate: The purchase price on the special VAT invoice for motor vehicle sales includes value-added tax. Therefore, when calculating the vehicle purchase tax, the 17% VAT must first be deducted.