Based on the following data, prepare a financial comparison of buying and leasing a motor vehicle with

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Based on the following data, prepare a financial comparison of buying and leasing a motor vehicle with a $24,000 cash price: 

Down payment (to finance vehicle), $4,000              Down payment for lease, $1,200

Monthly loan payment, $560                                       Monthly lease payment, $440

Length of loan, 48 months                                           Length of lease, 48 months

Value of vehicle at end of loan, $7,200                       End-of-lease charges, $600


What other factors should a person consider when choosing between buying or leasing?

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Related Book For  answer-question

Focus On Personal Finance

ISBN: 9780077861742

5th Edition

Authors: Jack R. Kapoor, Les R. Dlabay Professor, Robert J. Hughes, Melissa Hart

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