8. Based on the following data, prepare a financial comparison of buying and leasing a motor vehicle with a $24,000 cash price:

What other factors should a person consider when choosing between buying and leasing?

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Down payment (to finance vehicle), $4,000 Monthly loan payment, $560 Length of loan, 48 months Value of vehicle at end of loan, $7,200 Down payment for lease, $1,200 Monthly lease payment, $440 Length of lease, 48 months End-of-lease charges, $600