Week 6 assignment - time. Doing this little questioner made...

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1. Assignment: Buy vs. Lease Scenario Resources: Auto Calculator website: http://www.bankrate.com/calculators/auto/buy-or-lease-calculator.aspx Answer the questions presented the way you think you would if you were in the market for a car. Write a paragraph of 200-300 words discussing the following: o What recommendation does the calculator make for you? o Did the recommendation change the way you previously thought about buying vs. leasing a car? o Do you think you will follow the recommendations made by the calculator? Explain why or why not. I had gone to the website http://www.bankrate.com/calculators/auto/buy-or-lease- calculator.aspx and I used the Auto Calculator. I actually only got asked one question so I am not entirely sure I did it right. But in the end the results came out to say that I should lease a car instead of buying. The results came out this was because I do not have money I can put down on a car and I do not have a trade in I can do at this point in
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Unformatted text preview: time. Doing this little questioner made me rethinking and I believe it did change how I think about buying vs. leasing. In leasing a car there are many advantages. When you lease a car there is flexibility and you are not in any long term commitment. When you lease a car it can be for a short tem for 2-3 years. With the average car loan you have roughly 5 years to pay it off and it is yours even if you are not as fond of it. When a leasing period is up you can simply bring the car back and walk away from it, or if you like it you can buy the car by paying off the remaining balance. I think I would recommend this calculated because I know we all think we are making the right choices and maybe we arent making the choices based on financial long run. Getting a car is a big commitment so maybe using the calculator will help put more of a perspective in....
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