savings: $2,500 discretionary spending: $450 per month compare the costs of buying and leasing a new…

savings: $2,500 discretionary spending: $450 per month compare the costs of buying and leasing a new vehicle. what are the advantages of buying the car? check all that apply. option a buy option b lease total cost $22,780 $12,169 up - front cost $2,500 $3,925 monthly payment $338 for 60 months $229 for 36 months mileage restriction none 10,000 per year i have enough saved for the down payment. there are no mileage restrictions. the price of the car is less. the monthly payment is less. i will own the car in five years.

savings: $2,500 discretionary spending: $450 per month compare the costs of buying and leasing a new vehicle. what are the advantages of buying the car? check all that apply. option a buy option b lease total cost $22,780 $12,169 up - front cost $2,500 $3,925 monthly payment $338 for 60 months $229 for 36 months mileage restriction none 10,000 per year i have enough saved for the down payment. there are no mileage restrictions. the price of the car is less. the monthly payment is less. i will own the car in five years.

Answer

Brief Explanations:

  • Buying (Option A) has up - front cost of $2,500 which is equal to savings, so down - payment is doable.
  • Buying has no mileage restrictions.
  • After 60 months (5 years) of payments, the buyer owns the car. The price is higher and monthly payment is higher than leasing.

Answer:

I have enough saved for the down payment. There are no mileage restrictions. I will own the car in five years.