Which of the following is an advantage of buying your car over leasing? (1 point)
When you want to get a
• new car, you have to deal with selling your current one.
The down payment for a
• car loan is usually smaller than the security deposit for a lease.
You are always driving a new car.
You will end up owning the car, which may be worth a fair amount of money.
You will end up owning the car, which may be worth a fair amount of money.
The advantage of buying your car over leasing is that you will end up owning the car, which may be worth a fair amount of money.
To determine the advantage of buying a car over leasing, we can analyze the given options and assign points accordingly.
1. When you want to get a new car, you have to deal with selling your current one: This can be seen as a disadvantage for buying because it involves the hassle and potential loss of value when selling a used car. So, no points are awarded.
2. The down payment for a car loan is usually smaller than the security deposit for a lease: This is an advantage of buying. A smaller down payment can save you money upfront, so 1 point is awarded.
3. You are always driving a new car: This does not hold true for buying a car, as you can choose to drive a new or used car. No points are awarded.
4. You will end up owning the car, which may be worth a fair amount of money: This is a significant advantage of buying a car. Owning a car allows you to build equity and potentially sell it for a fair amount of money in the future. Therefore, 1 point is awarded.
Based on the analysis, the advantages of buying a car over leasing are:
- Smaller down payment for a car loan (1 point)
- The potential to own a car worth a fair amount of money (1 point)
The total score for the advantages of buying your car over leasing is 2 points.