Automobiles—Lease or Purchase? New or Used?

Leasing vs. Buying a Car

Now, it’s your turn to go car shopping! For this assignment, you’ll compare leasing to buying a NEW car. First you must decide on the type of car you want. What make? What model? Record your answers and research on the Leasing vs. Buying a Car template. You will submit this file at the end of this assignment.

Once you have decided on the type of car you want, search the Internet to locate a dealership that leases and sells that type of car. You must find out the down payment required for both a lease and a purchase. Use an Internet loan calculator to calculate your monthly payment for a purchase. What will the monthly payment be for a lease? Are there any other fees associated with leasing or purchasing the vehicle?

When you finish with your research, visit LeaseGuide.com and read the article. Then answer the following questions: Will you lease or purchase your vehicle? Explain your choice. Who would benefit most from leasing a car? What are three “scams” that you might encounter when leasing a car?

When finished, submit your research and answers to the dropbox.