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Maintain Lease Information
Use the Lease tab in the Automotive panel to maintain vehicle lease information.
To maintain lease information
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With an account displayed in the Work Form, do one of the following:
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From the Info menu, click Automotive Panel.
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At the top of the Panels section, click the name of the currently displayed panel (for example, Phones, Notes) and then click Automotive.
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In the Automotive panel, click the Lease tab.
Term (Months): Length of the lease, in months.
Effective Date: Date the lease became effective.
Maturity Date: Date the lease matured.
Return Date: Date the agency returned the vehicle to the leasing agency.
Disposition Date: Disposition date for returning the vehicle.
Inspection Received Date: Vehicle inspection date.
Original Miles: Original mileage when the lessee leased the vehicle.
Inceptions Miles: Mileage at the beginning of the lease term.
Contract Miles: Mileage allowed under the leasing contract.
Purchase Miles: Number of extra miles purchased.
End of Term Miles: Mileage at the end of the lease term.
Excess Miles: Number of miles in excess of the contract and purchased miles.
Unused Miles: Number of contract and purchased miles that the lessee used.
Contract Obligation: Total dollar amount due under the lease agreement. This amount excludes the security deposit, sales tax, and any other fees and taxes paid to a third party.
Security Deposit: Dollar amount the debtor paid as a security deposit.
Residual: Lease-end value of the vehicle.
Residual Gain/Loss: Dollar difference between the residual value and the end-of-lease purchase price.
Disposal Assessed Amount: Dollar amount charged to dispose of the vehicle.
Unpaid Months Payment: Number of months during the lease term that the debtor did not make a payment.
Unpaid Tax: Amount of unpaid taxes the debtor owes.
Wear and Tear: Total dollar amount charged for wear and tear on the vehicle.
Minor Wear Charge: Dollar amount charged for minor wear on the vehicle.
Major Wear Charge: Dollar amount charged for major wear on the vehicle.
End of Term Tax Assessed: Tax assessed at the end of the lease.
Excess Mileage: Dollar amount charged for each mile in excess of the mileage limit.
Mileage Credit: Dollar amount credited for unused mileage.
Other Tax Assessed: Dollar amount charged for other taxes (for example, property tax).
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Complete the information and then click Save.