2 Cheap Cars Group (NZSE:2CC) Long-Term Capital Lease Obligation : NZ$5.62 Mil (As of Mar. 2024)

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What is 2 Cheap Cars Group Long-Term Capital Lease Obligation?

2 Cheap Cars Group's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was NZ$5.62 Mil.

2 Cheap Cars Group's quarterly Long-Term Capital Lease Obligation declined from Mar. 2023 (NZ$6.08 Mil) to Sep. 2023 (NZ$0.00 Mil) but then increased from Sep. 2023 (NZ$0.00 Mil) to Mar. 2024 (NZ$5.62 Mil).

2 Cheap Cars Group's annual Long-Term Capital Lease Obligation increased from Mar. 2022 (NZ$5.83 Mil) to Mar. 2023 (NZ$6.08 Mil) but then declined from Mar. 2023 (NZ$6.08 Mil) to Mar. 2024 (NZ$5.62 Mil).

2 Cheap Cars Group Long-Term Capital Lease Obligation Historical Data

The historical data trend for 2 Cheap Cars Group's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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2 Cheap Cars Group Long-Term Capital Lease Obligation Chart

2 Cheap Cars Group Annual Data

Trend

Mar21

Mar22

Mar23

Mar24

Long-Term Capital Lease Obligation

5.00

5.83

6.08

5.62

2 Cheap Cars Group Semi-Annual Data
	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial			5.83	-	6.08	-	5.62

2 Cheap Cars Group (NZSE:2CC) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

2 Cheap Cars Group Long-Term Capital Lease Obligation Related Terms

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2 Cheap Cars Group (NZSE:2CC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » 2 Cheap Cars Group Ltd (NZSE:2CC) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

N/A

Address

102 Mays Road, Onehunga, Auckland, NTL, NZL, 1061

Website

https://www.2cheapcars.co.nz

2 Cheap Cars Group Ltd is an integrated automotive group operating throughout New Zealand via two divisions: Automotive Retail and Finance. The 2 Cheap Cars Group draws revenue from the two divisions: automotive retail division, revenue is primarily from the sale of vehicles and from agent commissions relating to third-party finance and insurance products. NZ Motor Finance (NZMF) generates finance income from lending to customers who are financing vehicles, and from selling guaranteed asset protection insurance (GAP) and payment protection insurance (PPI) products.

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