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Operating lease
An operating lease is the rental of a car for an agreed period, where the leasing company retains ownership and carries the residual value risk. The customer pays a fixed monthly amount for use, often including service and insurance, and returns the car at the end of the term with no obligation to buy.
Because the residual risk sits with the lessor, the calculation is sensitive to what the car can actually be sold for in three years. Condition and mileage at return decide the outcome.
For the dealer that means every operating lease contains a future used car that must be sold, and a customer who needs an offer before the car becomes surplus stock.
The counterpart is a finance lease, where the customer carries the residual risk and typically has a purchase option at the end.
In CARRUSLiNK
CARRUSLiNK distinguishes operating from finance contracts and uses the expiry date for both the renewal offer and planning the used car.