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leasing vs buying car

Authored by Fritz Mathurin

Other

9th - 12th Grade

Used 6+ times

leasing vs buying car
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48 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

A term that describes an alternative to car buying where monthly payments are paid for a specific period of time, after which the vehicle is returned to the dealership or bought, is:

car financing
car ownership
car maintenance
car leasing

2.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Media Image

Given are lease terms at the local dealership.
What is the total cash due at signing(including the first month's payment)? 

$2875
$2475
$2275
$375

3.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

The simplified formula for calculating monthly lease payment is:

acquisition fee + down payment
depreciation fee + finance fee
MSRP - down payment
MSRP + lease factor

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Someone might choose to own a car instead of leasing a car because:

it will be less expensive

it will be more expensive

it could lead to lower repair expenses

it could be sold later on to make some money back on the vehicle

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A car is a(n) ________________________ asset.

appreciating

depreciating

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Car leases usually have:

unlimited terms

minimum mileage agreements

maximum mileage agreements

none of these

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cars typically lose the most value in the second year after they are purchased.

true

false

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