Compare the costs of buying and leasing a new vehicle. What are the advantages of buying the car? Check all that apply. I have enough saved for the down payment. There are no mileage restrictions. The price of the car is less. The monthly payment is less. I will own the car in five years.

Question

Jasmin Mann

Business

15 February, 18:18

Compare the costs of buying and leasing a new vehicle. What are the advantages of buying the car? Check all that apply. I have enough saved for the down payment. There are no mileage restrictions. The price of the car is less. The monthly payment is less. I will own the car in five years.

+5

Answers (2)

Know the Answer?

Zander · Answer 1

1,2 and 5

Explanation:

I took the test

Ruth · Answer 2

The five options are advantages of buying a car instead of leasing one.

Explanation:

1) Both a lease and an auto loan require a down payment, although the lease's down payment is usually much smaller. If you have enough money to cover an auto loan down payment you should go for it.

2) When you buy a car, it is up to you how many miles you want to drive it, there are no 12,000 miles per year restriction, you may drive it 50,000 per year if you want and are able to.

3) You usually pay a lower price when you buy a car, since you can always ask for a discount to the car salesperson.

4) If you were able to make a down payment and get an auto loan, your monthly payment will be smaller even if the interest is the same, since the principal is smaller.

5) After you paid the auto loan, you own the car and you don't need to make any more payments. If you choose a lease, you will have to change your car and take a new lease and continue to pay.