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Nowadays, an increasing number
of people are choosing to lease their cars rather than buy
them. Leasing offers some tempting benefits, such as a lower
monthly payment and a smaller (or nonexistent) down payment.
But leasing has its drawbacks. When your lease is over, you
won't own anything. You could be fined for wear and tear on
the car when you return it. And there is often a limit to
the number of miles you can drive the car each year.
is best, then, leasing or buying? It depends on your individual
circumstances and needs. Using math and some basic car buying
and leasing concepts, you can make the decision that's right
for you. This activity will walk you through the steps: understanding
your own habits and preferences; figuring out your budget;
and then comparing the costs of leasing versus buying a car.