The open-end lease is designed for clients that are seeking to reduce overall vehicle cost by assuming the risk of resale value. An Allstate open-end lease lets you combine the benefits of leasing with the flexibility of ownership.
To assure the lowest capitalized cost, Allstate Leasing fleet purchasing specialists will factory order the vehicle and take full advantage of all manufacturers' fleet incentives. We will arrange direct shipment of the vehicle to a location convenient to the individual with whom the vehicle is assigned.
Under this type of lease, the Allstate Leasing management team works jointly with you to estimate the future market value of the vehicle based upon the anticipated use, mileage and term the vehicle will be retained in lease service. This step is a prerequisite to establishing a realistic residual value at lease expiration. Since you are bearing the risk of resale value the lease does not contain any mileage limitations nor damage responsibility clause.
Upon termination of the lease, the net proceeds received from the sale of the vehicle are applied against the residual value or lease payoff. Excess proceeds are returned to you in the form of a rental rebate. Conversely, should a deficit arise, this difference is payable as additional rental due. You have the option of buying or selling the vehicle or having Allstate remarket it. Allstate Leasing remarketing personnel remain abreast of the ever-changing used vehicle market conditions. This expertise has enabled us to successfully sell many thousands of vehicles through employee purchase programs and through our national affiliation with vehicle auction facilities.