Car Buying vs Leasing a car assessment

When you leasing a car, ___________________

• You can customize and modify the car

• You pay to drive the car for a certain length of time

• You own the car at the end of the agreement

• You have to return the car in its original condition

What is a disadvantage of leasing a car?

• You own the car after a period of time

• You are responsible for all maintenance and repair costs

• You have to pay acquisition fees and security deposit

• You have no mileage restrictions

What is a benefit of buying a car compared to leasing?

• You own the car outright once you complete all the payments

• You have to return the car at the end of the agreement

• You have to pay excessive wear and tear charges

• You have to pay lower monthly payments

All are advantage of buying a car, except

• You have the freedom to customize and modify the car

• You have mileage limits

• You have to return the car in its original condition

• You own it outright once you complete all the payments.

What happens at the end of a lease agreement?

• You own the car outright

• You can sell the car

• You can keep the car for as long as you want

• You can return the car to the dealer or purchase it at a predetermined amount

What is true about leasing a car

• You own it outright once you complete all the payments.

• Your monthly payments are less than buying a car

• There are no mileage restrictions when you own a car.

• You can keep the car for as long as you want, sell it, or trade it anytime.

The leasing agreement has limit mileage (e.g. ________ to ________)

• 10,000 to 100,000

• 50,000 to 100,000

• 0 to 1,000

• 12,000 to 15,000