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815 ILCS 636/10.110

Residual value

Illinois · Illinois Compiled Statutes 815 ILCS 636 — Motor Vehicle Leasing Act. · Status: effective

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815 ILCS 636/10.110, Residual value, Illinois, version 1 as recorded 2026-08-15, yourstate.us, https://yourstate.us/provision/1303333
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Residual value. The estimated value of the vehicle at the end of the scheduled lease term, used by the lessor in determining the base lease payment, as established by the lessor at the time the lessor and lessee enter into a consumer lease. (Source: P.A. 89-625, eff. 1-1-97.)