A vehicle lease agreement deposit that is held by the lessor as compensation for damages to a returned vehicle beyond normal wear and tear. The reserve is typically refunded if the vehicle is returned in acceptable condition.
Related information about reconditioning reserve:
- Reconditioning Reserve Definition | Investopedia
A type of deposit paid by one who leases a vehicle. The reconditioning reserve acts as a deposit against any damage outside of normal wear and tear.
- What is reconditioning reserve? definition and meaning
Definition of reconditioning reserve: A vehicle lease agreement deposit that is held by the lessor as compensation for damages to a returned vehicle beyond ...
- Wescom Credit Union | Financial Terms Glossary
The lessee gives the lessor a reconditioning reserve in the event a leased auto's condition deteriorates to a point where reconditioning is necessary. [top] ...
- Dewey Ford | New Ford dealership in Ankeny, IA 50021
A few states do not allow security deposits but do allow a reconditioning reserve. The reconditioning reserve can only be used to repair the vehicle and cannot ...
- Glossary Terms - Lease Advisor
Reconditioning Reserve: Another name for the security deposit paid when leasing a vehicle. ... Security Deposit: Sometimes called reconditioning reserve.
- Justia :: Consumer Law Glossary
... Reconditioning · Reconditioning Reserve · Registration Fee · Regulation M · Rent or Rent Charge · Residual Value · Residual Value Guidebooks · Sales/Use ...
- Glossary of terms for vehicle and other loans from Bank of America
Reconditioning reserve. skip to next word. An auto leasing term synonymous with a security deposit. This is a deposit you pay in the event a leased auto's ...
- FRB: Vehicle Leasing: Glossary
May 5, 2003 ... Reconditioning reserve: An amount you may pay at the beginning of the lease that may be used by the lessor or assignee to offset any amounts ...