Which Expenditure Will Be The Same Whether You Lease Or Buy A New Vehicle?

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Question

Which expenditure will be the same whether you lease or buy a new vehicle? total cost monthly payments gas and insurance required down payment

Answer

Correct answer:  gas and insuranceYour costs for fuel and automobile insurance won’t be any different for a leased vehicle than a purchased vehicle.  If you lease rather than buy, your monthly payments likely will be less and amount of down payment usually less also. But overall cost may be more, especially if you considers what asset value you own. (You never own the leased vehicle, unless you buy it at the end of the lease, and if you do so your overall cost typically will be more than if you had arranged a loan to purchase the vehicle.)In the first quarter of 2018, statistics show that 30% of new cars in the United States were obtained by lease agreements rather than by purchase agreements.

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