Based on the following data, prepare a financial comparison of buying and leasing a motor vehicle with

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

Down payment (to finance vehicle), $4,000 Down payment for lease, $1,200

Monthly loan payment, $560 Monthly lease payment, $440

Length of loan, 48 months Length of lease, 48 months

Value of vehicle at end of loan, $7,200 End-of-lease charges, $600

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

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Focus On Personal Finance

ISBN: 9780077861742

5th Edition

Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart

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Question Posted: Nov 22, 2018 07:29 AM

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Based on the following data, prepare a financial comparison of buying and leasing a motor vehicle with

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Step by Step Answer:

Buy 4000 560 x 48 7200 23680 Lease 1200 4...View the full answer

Focus On Personal Finance

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