Which statements apply to leasing a car? check all that apply. the car may be driven as much as needed. payments are generally higher than buying. there are mileage restrictions on the car. you must return the car after the lease ends. there are penalties

General
1

which statements apply to leasing a car? check all that apply. the car may be driven as much as needed. payments are generally higher than buying. there are mileage restrictions on the car. you must return the car after the lease ends. there are penalties for ending the lease early. you can sell the car to someone else after the lease ends.

2

Which statements apply to leasing a car?

When leasing a car, several statements apply and it is important to understand them in order to make an informed decision. The statements that apply to leasing a car are:

  • The car may be driven as much as needed. Unlike financing a car, leasing a car does not come with mileage restrictions. This means that you are free to drive the car as much as you need for work, travel, or any other activities without worrying about extra fees.

  • Payments are generally higher than buying. Even though monthly lease payments are often lower than loan payments on a new car, the overall cost of leasing a car is typically higher. This is because you are essentially just renting the car and not building any equity as you would when buying a car.

  • There are mileage restrictions on the car. This statement is actually false, as mentioned above, there are no mileage restrictions on the car when leasing.

  • You must return the car after the lease ends. When leasing a car, you are paying to use it for a set period of time. This period is usually 24-60 months and after it ends, you must return the car to the dealership unless you choose to buy it out.

  • There are penalties for ending the lease early. If for some reason you are unable to fulfill the lease agreement and choose to end it early, there may be penalties involved such as early termination fees.

  • You can sell the car to someone else after the lease ends. This is true, however, it’s important to note that you do not own the car when you lease it, so any sale would have to be negotiated with the dealership or leasing company. Also, the car will likely have depreciated in value by the time the lease is up, making it harder to sell.

Overall, leasing a car can be a good option for some people, especially if they don’t want to worry about the hassle of maintenance or selling the car later on. However, it’s important to fully understand the terms and conditions of the lease before entering into an agreement.