jamir has decided that he needs a new car. he has found the model and color he wants for a purchase price of…

jamir has decided that he needs a new car. he has found the model and color he wants for a purchase price of $25,838. to buy the car, he must put 10 percent down, and his loan is for five years with an interest rate of 4.4 percent. his payments are $432.46. to lease the car, he can sign a three - year contract with payments of $290. he needs to provide $1,500 up front to pay initial fees and his first months payment. his annual mileage cannot exceed 15,000 miles. what are the disadvantages if jamir decides to purchase the car? check all that apply. he will not get the model he wants. he will have to come up with a bigger down payment. his monthly payments will be higher. he will have to return the car when he is done making payments. the purchase price will be higher.

jamir has decided that he needs a new car. he has found the model and color he wants for a purchase price of $25,838. to buy the car, he must put 10 percent down, and his loan is for five years with an interest rate of 4.4 percent. his payments are $432.46. to lease the car, he can sign a three - year contract with payments of $290. he needs to provide $1,500 up front to pay initial fees and his first months payment. his annual mileage cannot exceed 15,000 miles. what are the disadvantages if jamir decides to purchase the car? check all that apply. he will not get the model he wants. he will have to come up with a bigger down payment. his monthly payments will be higher. he will have to return the car when he is done making payments. the purchase price will be higher.

Answer

Brief Explanations:

If Jamir buys the car, he has to make a 10 - percent down - payment which means he needs more upfront money. Also, compared to leasing where monthly payments might be lower in some cases, his monthly payments for the purchase loan are higher. And when the loan is paid off, he owns the car, but with leasing he has to return it. The purchase price is fixed and he will get the model he wants as stated.

Answer:

He will have to come up with a bigger down payment. His monthly payments will be higher. He will have to return the car when he is done making payments.