Question

Which statement most accurately describes the advantages and disadvantages of leasing a vehicle?
a.Leasing is always cheaper (in both the long and short term), but you do not own the vehicle at the end of the term.
b.Leasing a vehicle provides a cheaper monthly payment and less overall maintenance, but typically has additional fees and provides no ownership at the end of the term.
c.Leasing is a bit more expensive each month, but allows you to always drive a new vehicle.
d.Leasing is typically cheaper per month and allows for cheaper auto insurance, but you do not own the vehicle at the end of the term.

Answer 1

b

Leasing usually gives lower monthly payments and many repairs are covered by the manufacturer warranty during the lease, but leases come with mileage limits, potential excess‑wear charges, termination/disposition fees and you do not own the car at the end. The other choices are inaccurate (leasing is not "always" cheaper, it is typically not more expensive per month, and it often does not lower — and can increase — insurance requirements/costs).