Economics and Personal Finance/Living + Leisure Expenses

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When you lease a car, you use a car for a temporary amount of time.

  • No large downpayment to pay
  • You drive a new, fresh car every few years
  • Monthly payments are not as expensive as buying a car, so you can afford
  • Stay up with the latest technology
  • You never own the car that you've leased
  • You will always have monthly payments to pay
  • You can not modify the car to your own tastes since it isn't your OWN car
  • You have a mileage limit to adhere to

Considerations[edit | edit source]

  • Performance
  • Safety
  • Odometer mileage
  • Average miles driven annually (per year)
  • Fuel consumption
  • Size
  • Looks
  • Price/payment limit
  • Insurance, costs, taxes, maintenance
  • Options/features
  • Warranty
  • Depreciation and resale

Hidden Costs[edit | edit source]

  • Tag and title
  • Property tax
  • Sales tax
  • Car insurance
  • Repairs/maintenance
  • Oil change
  • Inspections
  • Gas
  • License renewal fees