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GMAC Smart Lease
is a contract. The lessee is agreeing to pay for the use of
the vehicle over the period of the lease. Payment are determined
by depreciation, which is the value that the vehicle is expected
to lose over the term of the lease. The lessee also assumes
financial responsibility for any damage done to the vehicle
over the period of the lease. At lease end, the lessee must
return the vehicle to the lessor, unless the lessee decides
to purchase the vehicle at the end of the lease.
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