Michael is considering getting a closed end lease on a car for $48$ montw. The car dealer quotes him a monthy payment of $$349,$ it Michael were to bury the car with the same down payment, hls montily parment would be $$465$ a month. Michael's leave payment is lower because

he is paying finance charges only on the amount of the car that wim be depredated over four years.

cor dealers make a lower peoft on leased cars

he is not paying for the residual value of the car at the end of the lease

leased cars do not come with a manufacturer's warranty