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cc84sc cc84sc
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A year ago
Michael is considering getting a closed-end lease on a car for 48 months. The car dealer quotes him a monthly payment of $349. If Michael were to buy the car with the same down payment, his monthly payment would be $465 a month. Michael's lease payment is lower because

▸ he is paying finance charges only on the amount of the car that will be depreciated over four years.

▸ he is not paying for the residual value of the car at the end of the lease.

▸ leased cars do not come with a manufacturer's warranty.

▸ car dealers make a lower profit on leased cars.
Textbook 
Personal Finance

Personal Finance


Edition: 2nd
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carducbcarducb
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A year ago
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cc84sc Author
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A year ago
this is exactly what I needed
sadiewolf
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Yesterday
Helped a lot
sweetalia
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2 hours ago
Thanks
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