buying vs. leasing a new car\nfor each statement, determine if it is a characteristic of a lease or a…

buying vs. leasing a new car\nfor each statement, determine if it is a characteristic of a lease or a purchase of a vehicle.\nmileage is limited.\nthere are no mileage restrictions.\npayments are smaller.\nthe car is returned after the contract.\nyou can sell the car at any time.\npayments are generally higher.\nbuying a vehicle\nleasing a vehicle

Answer

Brief Explanations:

Mileage is limited: This is a characteristic of leasing as lease - contracts often have mileage caps to protect the vehicle's residual value.
There are no mileage restrictions: This is a characteristic of buying as the owner has full control over the vehicle's usage.
Payments are smaller: Leasing usually has lower monthly payments as you are only paying for the vehicle's depreciation during the lease term.
The car is returned after the contract: This is typical of leasing where the lessee has to return the vehicle at the end of the lease period.
You can sell the car at any time: This is a right of the owner, so it's a characteristic of buying.
Payments are generally higher: Buying a car often involves higher monthly payments as you are paying off the full cost of the vehicle.

Answer:

Mileage is limited: Leasing a vehicle
There are no mileage restrictions: Buying a vehicle
Payments are smaller: Leasing a vehicle
The car is returned after the contract: Leasing a vehicle
You can sell the car at any time: Buying a vehicle
Payments are generally higher: Buying a vehicle