which of the following is an advantage of leasing over buying a car

Answer 1

Leasing a car has several advantages over buying, including:

1. Lower Monthly Payments: Lease payments are typically lower than loan payments for purchasing a car, making it more affordable in the short term.

2. Lower Down Payment: Leasing often requires little to no down payment, while buying usually necessitates a larger upfront payment.

3. Access to Newer Models: Leasing allows you to drive a new car every few years, providing access to the latest features, technology, and safety enhancements.

4. Lower Repair Costs: Leased vehicles are often under warranty for the duration of the lease, which can minimize repair costs.

5. Tax Benefits: In some cases, business owners can deduct lease payments from their taxes, making leasing economically advantageous.

6. No Resale Hassle: At the end of the lease term, you simply return the car without worrying about selling it or its depreciated value.

These advantages can make leasing an appealing option depending on your financial situation and lifestyle.