The Consumers Guide to Auto Leasing
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Car Leasing Glossary - Total Contractual Obligation

Total Contractual Obligation (car leasing term)

The sum of the capitalized cost reduction, the total of base monthly payments, and other charges due under the lease agreement. The total contractual obligation excludes any security deposit as well as sales taxes and any other fees and taxes paid to a third party. If the total contractual obligation exceeds $25,000, the Consumer Leasing Act does not apply.

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