Buying vs. Leasing a Car B

How many years is 36 month term?

• 5

• 3

• 4

• 6

• 2

For each pro or con choose Buying vs. Leasing

Pro: will own car

• Buying

• Leasing

A low credit rating is a good thing?

• True

• False

Con: Will never own the car

• Buying a Car

• Leasing a Car

Is a factor of your credit score....

• On time payments (no late payments)

• Your favorite color

• birthday in March

Vocabulary:

Down payment

• how long you take a loan for

• leasing/renting a car

• the loss of value

• Money given at time of purchse

How long you are taking out a the loan

• APR

• credit score

• loan

• term

New vs. Used car

Pro: No hidden issues

• New

• Used

New vs. Used Car

Con: may have high mileage

• new

• used

If a car costs $35,000 and you make a down payment of $2000.

How much will you need to finance?