Financial Math: Car Leasing vs Buying Quiz

Financial Math: Car Leasing vs Buying Quiz

9th - 12th Grade

32 Qs

quiz-placeholder

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Financial Math: Car Leasing vs Buying Quiz

Financial Math: Car Leasing vs Buying Quiz

Assessment

Quiz

Mathematics

9th - 12th Grade

Hard

Created by

Jeff Da Moude

FREE Resource

32 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one major downside of leasing a car compared to buying?

You build equity in the car.

Monthly payments are higher.

You own the car at the end of the term.

You never stop paying for a vehicle.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a benefit of buying a car?

Lower monthly payments.

No need to borrow money.

You own an asset at the end.

No interest payments.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common advantage of leasing a car?

You can modify the car as you like.

You drive a late-model vehicle.

You avoid finance charges.

You have unlimited mileage.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might leasing be more appealing than buying for some people?

You pay off the full principal.

You avoid all maintenance costs.

You have lower monthly payments.

You own the car immediately.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a potential benefit of buying a used car instead of leasing?

Higher resale value.

Significant tax credit.

No need for a loan.

Lower repair costs.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one advantage of leasing a vehicle?

You can sell the car at any time.

You can drive a higher-priced, better-equipped vehicle.

You own the vehicle at the end of the lease.

You avoid all maintenance costs.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a disadvantage of leasing a vehicle?

You have unlimited mileage.

You can modify the car as you like.

Leasing usually costs more than an equivalent loan.

You own the vehicle at the end of the lease.

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