9.6: Leasing a Vehicle

Front

Which of the following is NOT true about leasing a car: You will have the car for a certain amount of time, You will likely have a mileage restriction, Maintenance is free, You will have the option to buy the car at the end of your term?

Back

Maintenance is free.

Front

Car leases usually have: unlimited terms, minimum mileage agreements, maximum mileage agreements, none of these

Back

maximum mileage agreements

Front

Josyln completed her lease term, and decided to turn the car in instead of purchasing it. Upon inspection, the dealership noted that she drove 5000 miles over the mileage allowance. What fee will Josyln be required to pay as a result?

Back

Lease Penalty

Front

What is the total lease cost for a luxury car with 48 payments of $475, a deposit of $475, a title fee of $65, and a license fee of $85?

Back

$23,425, $23,425.00, $23425, $23425.00

Front

What is the total lease cost for a SUV with 39 payments of $279.95, a deposit of $900, a title fee of $60.00, and a license fee of $69.95?

Back

$11,948, $11,948.00, $11948, $11948.00

Front

What is less expensive: to lease or to purchase?

Back

$16,799.60 to lease; $14,563.08 to purchase; best to purchase

Front

What is the total cost of leasing the vehicle if Homer leased it for $199 a month for 48 months, paid a deposit of $225, a title fee of $15, a license fee of $60, and drove 68,515 miles with a $0.10 per mile charge for all miles over 60,000?

Back

$10,703.50

Front

What is the term for the contract between a car owner and another party that allows the latter to use the car for a specific time period?

Back

Lease