for each statement, determine if it is a characteristic of a lease or a purchase of a vehicle. mileage is…

for each statement, determine if it is a characteristic of a lease or a purchase of a vehicle. mileage is limited. there are no mileage restrictions. payments are smaller. the car is returned after the contract. you can sell the car at any time. payments are generally higher. buying a vehicle leasing a vehicle

for each statement, determine if it is a characteristic of a lease or a purchase of a vehicle. mileage is limited. there are no mileage restrictions. payments are smaller. the car is returned after the contract. you can sell the car at any time. payments are generally higher. buying a vehicle leasing a vehicle

Answer

Brief Explanations:

  • Mileage is limited: A common characteristic of leasing as lessors set limits to protect vehicle value.
  • There are no mileage restrictions: This is typical of buying a vehicle as the owner has full - use rights.
  • Payments are smaller: Leasing usually has lower monthly payments as you're only paying for the vehicle's depreciation during the lease term.
  • The car is returned after the contract: This is a key feature of leasing, where the lessee returns the vehicle at the end of the lease.
  • You can sell the car at any time: Only possible when you own the vehicle (buying), not when leasing.
  • Payments are generally higher: Buying a vehicle often has higher monthly payments as you're paying off the full purchase price.

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