Deciding Between Leasing and Buying a Car

What is the main difference between leasing and financing a car?

• Financing allows you to return the car at the end of the term.

• Leasing payments are always higher than financing payments.

• Leasing requires a higher deposit than financing.

• Leasing involves renting the car for a fixed term, while financing involves buying the car with a loan.

When leasing a car, what happens at the end of the lease term?

• You must buy the car.

• You stop making payments.

• You own the car.

• You return the car and can lease a new one.

What does financing a car mean?

• Renting the car for a few years.

• Buying the car with the help of an auto loan.

• Paying for the car in full upfront.

• Leasing the car with an option to buy.

How are monthly payments different between leasing and financing?

• Leasing payments are lower because you only pay for the value used.

• Financing payments are lower because you rent the car.

• Financing payments are higher because you only pay for the value used.

• Leasing payments are higher because you own the car.

What are you paying for when you lease a vehicle?

• The value you use up during the lease term.

• The cost of repairs and maintenance.

• The future value of the car.

• The entire value of the car.

What happens to your payments once you pay back your auto loan?

• You continue making payments.

• You stop making payments and own the car.

• You return the car.

• You start a new loan.

What is a potential downside of leasing a car?

• You have to pay for major repairs.

• You can drive as much as you want.

• You are responsible for mileage overages and excessive wear fees.

• You can customize the car however you want.

What is a benefit of financing a car?

• You are not responsible for major repairs.

• You own the car once the loan is paid off.

• You have lower monthly payments.

• You get a new car every few years.

What is a benefit of leasing a car?

• You own the car at the end of the lease.

• You have lower monthly payments.

• You can customize the car however you want.

• You can drive as much as you want.

What does Jen decide at the end of the discussion?

• To lease the spaceship.

• To finance the spaceship.

• To buy freeze-dried ice cream.

• To buy a space suit.