Fine Print: Reading an Auto Lease Agreement
12th Grade
•10 Qs
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Fine Print: Reading an Auto Lease Agreement
Quiz
•
Mathematics
•
12th Grade
•
Practice Problem
•
Hard
+6
Standards-aligned
Roberto Rosales
Used 33+ times
FREE Resource
About this resource
This quiz focuses on financial literacy, specifically analyzing auto lease agreements and understanding the complex financial terms and calculations involved in vehicle leasing. The content is appropriate for grade 12 students who are developing practical life skills and preparing for real-world financial decisions. Students need to demonstrate skills in reading and interpreting legal documents, extracting specific numerical information, calculating total costs over time, understanding depreciation concepts, and analyzing the financial implications of contractual terms. The problems require students to work with multi-step calculations involving monthly payments, down payments, mileage allowances, excess usage fees, and residual values. Students must also understand the difference between leasing and purchasing, recognize various fee structures, and calculate total out-of-pocket expenses across the entire lease term. Created by Roberto Rosales, a Mathematics teacher in the US who teaches grade 12. This quiz serves as an excellent tool for bringing real-world application to mathematics instruction while building essential financial literacy skills that students will use immediately after graduation. Teachers can use this assessment as a formative evaluation during a unit on consumer mathematics, as homework to reinforce document analysis skills, or as a warm-up activity to introduce discussions about major financial decisions. The quiz works particularly well for review sessions before standardized assessments or as part of a project-based learning unit where students compare different financing options. This assessment aligns with Common Core Mathematics standards A-CED.3 (representing constraints by systems of equations and inequalities) and Mathematical Practice MP1 (making sense of problems and persevering in solving them), while also supporting financial literacy standards that emphasize understanding credit, debt, and major purchases.
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much does Chad have to pay the dealership on the day he signs his lease agreement?
$256.94
$400.00
$3,500.00
$4,241.94
Tags
CCSS.7.EE.B.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many years is Chad’s lease for?
3 years
4 years
5 years
6 years
Tags
CCSS.HSF.BF.A.2
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is Chad’s monthly lease payment?
$150.00
$244.69
$256.94
$400.00
Tags
CCSS.HSF.BF.A.2
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What day of the month is Chad’s monthly payment due?
The 1st
The 15th
The 30th
It’s different each month
Tags
CCSS.RI.11-12.7
CCSS.RI.8.7
CCSS.RI.9-10.7
CCSS.RL.11-12.7
CCSS.RL.9-10.7
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If Chad decides to turn in his car after the lease instead of buying it, how much will it cost him to do so assuming he doesn’t have any excessive mileage or damage?
There will not be a fee
$150.00
$400.00
$1000.00
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the total out of pocket expense that Chad will pay to lease this car, assuming he incurs no additional usage or wear expenses?
$4,241.94
$12,350.00
$16,368.12
$22,300
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much is the dealership expecting the car’s value to decrease over the course of the lease?
$3,500.00
$5,295.00
$6,450.00
$12,350.00
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