NEW EDUCATION RESOURCE ON VEHICLE LEASING FOR CONSUMERS.The Federal Reserve Board on August 2, 2000, announced a new education resource designed to help consumers learn more about vehicle leasing Vehicle leasing refers to leasing the use of a motor vehicle for a fixed or indefinite period of time. It is commonly offered by dealers as an alternative to vehicle purchase. . Keys to Vehicle Leasing: A Consumer Resource is a computer program that can be downloaded from the Federal Reserve Board's web site (www.federalreserve.gov/ pubs/leasing) and used on home PCs. It answers the following questions in depth: * How is leasing different from buying? * What are the up-front, ongoing, and end-of-lease costs? * How do you compare lease offers and negotiate lease terms? The program also includes information on the Consumer Leasing Act and its companion regulation (Regulation M and commentary), a comprehensive glossary, a leasing quiz, and frequently asked questions. To download Keys to Vehicle Leasing: A Consumer Resource to a home computer, consumers will need the following: * A Windows 95, 98, NT, or 2000 operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. (the program will not run on a Macintosh operating system (operating system) Macintosh Operating System - (Mac OS) Apple Computer, Inc.'s proprietary operating system for their Macintosh family of personal computers. The part of the operating system that simulates the desktop is called "Finder. ) * A level 486 processor or higher * 24 MB of free disk space on their hard drive * Adobe Acrobat 3.0 or higher (for printing). The program takes about 25 minutes to download on a standard 56K modem. Once the program is downloaded, it is self-extracting. Assistance with the downloading process is available by using the feedback form on the Board's web site. Another new addition to the web site is the Guide for Educators, a slide presentation with explanatory notes for school and community educators. The web site also provides an overview of a closed-end lease Closed-End Lease A rental agreement that puts no obligation on the lessee (the person making periodic lease payments) to purchase the leased asset at the end of the agreement. Also called a "true lease", "walkaway lease" or "net lease". , the most common type of vehicle lease used by the automotive industry, sample disclosure forms required in leasing transactions, and a glossary of terms used in leasing. Other government agencies and organizations taking part in the "Keys to Vehicle Leasing" educational effort are the American Financial Services Association (AFSA AFSA American Foreign Service Association AFSA American Financial Services Association AFSA American Fire Sprinkler Association AFSA Air Force Sergeants Association AFSA American Federation of School Administrators AFSA Armed Forces Security Agency ), the AFSA Education Foundation, the Arizona Attorney General The Arizona Attorney General is the chief legal officer of the state of Arizona, in the United States. It is an independent, constitutionally mandated office, elected by the people of the state to a four-year term. , the Association of Consumer Vehicle Lessors, the Cooperative Extension System, the Federal Trade Commission, the Florida Attorney General The Florida Attorney General is an elected official in the U.S. state of Florida. The position has a four year term of office with a two term limit. Attorney General Term of Service Joseph Branch 1845 - 1846 Augustus E. Maxwell 1846 - 1848 James T. , the National Automobile Dealers Association, and the National Vehicle Leasing Association. The brochure Keys to Vehicle Leasing: A Consumer Guide is available in English and Spanish from Publications Services, Mail Stop 127, Board of Governors of the Federal Reserve System Board of Governors of the Federal Reserve System The managing body of the Federal Reserve System, which sets policies on bank practices and the money supply. , Washington, DC 20551, or call 202-452-3244. The first 100 copies are free. It is also available on the Board's web site: www.federalreserve.gov/pubs/leasing. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion