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Leasing vs. Buying a Car: Advantages & Disadvantages

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following BEST defines a down payment?

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1. What is TRUE about mileage restrictions?

2. Tony wants a new car but cannot afford it. What advantage would Tony have if he leased a car?

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About This Quiz & Worksheet

When you decide it's time to purchase a vehicle, there are different options to consider. You may choose to buy or lease the car, but it is important to completely understand the advantages and disadvantages of each option before making a decision. This quiz and worksheet combination will ask you to choose the best answer about different terminology relative to these two alternatives.

Quiz & Worksheet Goals

You will be tested on:

  • Benefits of leasing
  • Mileage restrictions
  • Down payments
  • Negative equity

Skills Practiced

Prepare to practice various skills, including:

  • Defining key concepts - ensure that you can accurately define main phrases, such as negative equity and down payments
  • Information recall - access the knowledge you've gained regarding mileage restrictions
  • Knowledge application - use your knowledge to answer questions about leasing

Additional Learning

Become more educated before purchasing a car by reviewing the accompanying lesson, Leasing vs. Buying a Car: Advantages & Disadvantages. This lesson will address the following objectives:

  • Understand the car buying process
  • Differentiate between buying and leasing a car
  • Analyze what buying a car entails
  • Determine advantages and disadvantages of buying a car
  • Address leasing a car
  • Identify benefits and detriments of leasing a car
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