Which of the following is an advantage of buying over leasing your car? (1 point)
When you want to get a new car, you have to deal with selling your current one.
You can keep the car as long as you want and get a new one when you want.
The down payment for a car loan is usually smaller than the security deposit for a lease.
Every repair is covered under the warranty.
The advantage of buying over leasing your car is that you can keep the car as long as you want and get a new one when you want.
The advantage of buying over leasing your car is that you can keep the car as long as you want and get a new one when you want.
To determine which of the options is an advantage of buying over leasing a car, we need to evaluate each statement.
1. When you want to get a new car, you have to deal with selling your current one.
This statement suggests that when you own a car, you have the burden of selling it yourself when you want to get a new one. While this may be seen as a disadvantage for some, it is actually a disadvantage of buying over leasing since, with a lease, you can simply return the car at the end of the lease term without needing to deal with selling it. Therefore, this statement is not an advantage of buying a car.
2. You can keep the car as long as you want and get a new one when you want.
This statement highlights the benefit of owning a car. When you buy a car, you have the freedom to keep the car for as long as you desire and replace it only when you choose to. Leasing typically comes with a fixed term, after which you have to return the car. Therefore, this statement is indeed an advantage of buying a car over leasing.
3. The down payment for a car loan is usually smaller than the security deposit for a lease.
This statement compares the initial costs of buying and leasing a car. Generally, buying a car involves a down payment towards a car loan, while leasing usually requires a security deposit. While the specific amounts may vary depending on individual circumstances, it is often the case that the down payment for a car loan is smaller than the security deposit for a lease. Hence, this statement can be considered as an advantage of buying over leasing.
4. Every repair is covered under the warranty.
This statement indicates that all repairs are covered under the car's warranty. However, it is important to note that warranties usually have limitations and may not cover all types of repairs or damages. Additionally, warranties typically have a designated time frame or mileage limit. Therefore, this statement is not applicable as an advantage of buying a car over leasing.
Considering the evaluation of each statement, the advantages of buying over leasing are:
- You can keep the car as long as you want and get a new one when you want.
- The down payment for a car loan is usually smaller than the security deposit for a lease.