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

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

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

Answer

Brief Explanations:

Leasing a vehicle typically has smaller payments, mileage restrictions, and the car is returned after the contract. Buying a vehicle allows you to sell it at any time and generally has higher payments as you own the asset.

Answer:

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