Automobile Lease Versus Purchase Analysis Would it surprise you to learn that about 30% of new cars are leased and not p

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Automobile Lease Versus Purchase Analysis Would it surprise you
to learn that about 30% of new cars are leased and not purchased?
(U.S. News & World Report). In this assignment, you'll use
assumed data to perform a lease versus purchase analysis for a new
vehicle. INSTRUCTIONS
Use the automobile lease versus purchase analysis form in
Worksheet 5.1 to find the total cost of both the lease and the
purchase using the following, assumed information:
You are trying to decide whether to lease or purchase a new car
costing $18,000. If you lease, you'll have to pay a $600 security
deposit and monthly payments of $425 over the 36-month term of the
closed-end lease. On the other hand, if you buy the car then you'll
have to make a $2,400 down payment and will finance the balance
with a 36-month, 5 percent loan; you'll also have to pay a 6
percent sales tax ($1,080) on the purchase price, and you expects
the car to have a residual value of $6,500 at the end of 3 years.
You can earn 2 percent interest on your savings and plan to include
the sales tax in the amount financed on the purchase. Save your
file as "worksheet 5.1 - your name". Once you have completed the
worksheet, write a 2-3 paragraph reflection discussing the
following: According to the Automobile Lease Versus Purchase
Analysis, is leasing or buying a better choice?
Does this surprise you? Have you ever leased, or known a friend
or family member who leased a car? Was it a "good" experience for
you (or them)? Why or why not?
What is your personal opinion on leasing versus buying?