It looks like the message about the lease terms has some missing parts. However, I can help Jordan understand the general concept of leasing a car and what she should know.
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Loan Amount: In a lease agreement, Jordan will not be paying for the total price of the car (the full loan amount). Instead, she is essentially paying for the use of the car over a specified period, which is usually a few years.
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Depreciation: Instead of paying for the entire vehicle, she will pay for the car’s depreciation during the lease term. Depreciation is the reduction in value of the car over time, which the dealer can estimate based on how many miles she drives and the expected residual value of the car at the end of the lease.
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Monthly Payments: Jordan will make monthly payments based on the depreciation, along with any applicable fees, interest (often referred to as the 'money factor'), and taxes. These payments may be lower compared to financing a car purchase.
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Lease Term: The lease will specify a period, typically between 2 to 4 years, and a maximum annual mileage allowance (usually between 10,000 to 15,000 miles). Exceeding this mileage may result in additional fees.
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End of Lease Options: At the end of the lease, Jordan may have options such as buying the car for its residual value, leasing a new vehicle, or returning the car to the dealership.
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Maintenance and Repairs: Jordan is generally expected to keep the vehicle in good condition and may be responsible for maintenance and repair costs, unless specifically covered under the lease terms.
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Security Deposit and Fees: There may be an upfront security deposit and other fees associated with the lease that Jordan needs to be aware of.
It's important for Jordan to read the lease agreement carefully and ask the dealership any questions she might have to ensure she fully understands the terms.