How to close a rent-to-own contract

An active contract is closed in one of two ways: by completion — the vehicle goes to the client — or by termination — the vehicle stays with the company. Early payoff is not a separate way but a shortcut to completion.

Path	When	How it ends
Completion	The whole schedule is paid	The vehicle is handed over to the client and moved to the archive
Early payoff, then completion	The client wants to buy out before the end of the term	Same as completion
Termination	The deal ends without a buyout	The vehicle stays with the company, and a balance is calculated

Early payoff

The early payoff amount is made up of:

• the unpaid buyout part of all schedule rows;
• unpaid fees and late fees;
• unpaid rent and interest only on overdue rows.

Future rent and interest are not included — that is the benefit of early payoff for the client.

1. Click “Early payoff” on the contract page.
2. Check the “Early payoff amount” in the window.
3. Confirm.
4. Accept a payment for this amount.
5. Complete the contract once the early payoff row is paid.

After confirmation, unpaid schedule rows get the “Cancelled” status, partially paid ones are reduced to the paid amount, and an “Early payoff” row for the full amount, due today, appears at the end of the schedule. Money already received stays where it is.

Termination

1. Click “Terminate” on the contract page.
2. In the window, check the “Balance as of the termination date”: it is shown as “To be paid to the client” or as “Client owes”.
3. Enter a reason — without it the confirm button is inactive.
4. Confirm.

After termination, unpaid rows are cancelled, the contract booking is closed, and the vehicle is released: if the planned booking end date was later, it is moved to the moment of termination. No message is sent to the client.

How the balance is calculated

Component	Sign
The paid buyout part — only if “Refund buyout on termination” is checked in the contract	in the client's favor
Unallocated overpayment	in the client's favor
Unpaid rent, interest and fees on overdue rows	in the company's favor
Unpaid late fees	in the company's favor

A result above zero means the company owes the client. Below zero means the client owes the company.

How to settle after termination

The balance is written into the cost of the contract booking: the client's debt shows as an underpayment, the company's debt as an overpayment. After the booking is closed, the regular payment row appears under the contract panel in the booking card.

1. Open the booking via the link in the contract header.
2. If the client owes — accept payment of the debt with the “Rental” item.
3. If the company owes the client — record a payout as a negative amount. It goes to the “Rent-to-own” category and doesn't reduce revenue.
4. Return the deposit as in a regular booking — see the deposit decision.

Once the debt is paid or the payout is recorded, the booking balances to zero.

Completion

The “Complete” button is active only when no rows with the “Scheduled” or “Partially paid” status remain in the schedule. While it is inactive, the reason is shown in the button's tooltip, and on a phone — as text under the “Accept payment” button and in the “More actions” menu (the three-dot button).

1. Click “Complete” on the contract page.
2. Read the warning: the vehicle will be moved to the archive as sold.
3. Confirm.

After completion:

• the contract booking is closed;
• the vehicle is moved to the archive as sold — at the buyout price and with today's date;
• no separate sale payment is created: the money has already come in as scheduled payments;
• the client gets a message about the completion.

If completion fails, the window gives the reason

The confirmation window stays open and explains the refusal:

• “Not everything is paid: schedule rows … are still unpaid” — pay these rows or set up an early payoff;
• “The car has other active bookings — close them before completing” — with “Booking #…” links to each of them. The vehicle goes to the archive, so it must not have any other active bookings.

Overpayment after completion

If the client paid more than the schedule, the overpayment remains visible in the booking. It can be returned as a payout of a negative amount in the booking's payment row — it goes to the “Rent-to-own” category.