Economics and Personal Finance

What is Leasing for a car?

• You pay yearly fees of the whole car.

• You do not pay for the entire car, you just pay for the term of the lease, plus fees and interest.

• You buy it all at once.

• You only pay insurance on the car.

What is buying for a car?

• You pay monthly fees.

• You pay off the car when you want too.

• You pay off the car right then and there to the vendor so you don't have to do monthly payments on it.

• Trading in for a brand new car.

What are the benefits of leasing a car?

• Lower monthly payments.

• Latest technology in the car.

• Ease of Trade-In.

• Sales Tax and Smaller Down Payment.

• All of the above.

What are the benefits of buying a car?

• Ownership.

• Unlimited Mileage.

• Cash for your next car.

• No more payments when your car loan/car is paid off.

• All the above.

When buying a car does it usually cost less than leasing overall, in time?

• Yes.

• No.

• It is the exact same amount of money in the end.

What is typically the mileage when leasing a car A YEAR?

• 15,000

• 23,000

• 12,000

• 18,000

When leasing a new car you usually get to drive a new car/ or experience a new car every?

• 1-2 Years.

• 2-3 Years.

• 3-4 Years.

• 4-5 Years.

When leasing a vehicle you usually have to get what kind of insurance?

• Liability Insurance.

• Comprehensive Insurance.

• Gap Insurance.

• No-Fault Insurance.

When buying a vehicle some of the top benefits are?

• You can customize your car as many ways as you want.

• You can drive as many miles as you would like.

• You can build up trade-in or resale value.

• There is no risk of possible lease-end charges.

• All of the above.

What are some cons of buying a vehicle?

• You must have a stable and predictable source of income.

• You can have unexpected post-warranty repair costs.

• You must consistently and properly maintain your car.

• All of the above.