Leasing and Financing Practice

Leasing is basically like ___________ a car.

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

When you are leasing, you _________ own the car.

• do not

• do

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Check (ALL that apply)

Which of the following could you be charged extra for while leasing?

• Paint color

• Extra mileage

• Any damage to the vehicle

• Emissions testing

• Ending your lease early

When leasing a vehicle, your payment is mostly based on how much the car will _____________ over the time you are renting it.

• depreciate

• drive

• last

• finance

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

True or false: When leasing, part of your monthly payment is also made up of interest payments and a profit margin for the car company as well.

• True

• False

CHECK ALL THAT APPLY!

Which of the following are reasons people might lease?

• Because it's overall cheaper than financing.

• Because people enjoy having new vehicles as often as possible.

• Because people don't have money for a down payment or a vehicle to trade in.

• Because some people move around frequently and won't always be able to take a personal car with them.

Financing means that you are

• Renting the car

• Making monthly payments

• Borrowing the car

• Taking a lower interest rate

When you financing anything you are taking out a _________.

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

Check ALL that apply.

Which of the following things can change how much your monthly payment will be when you are financing a vehicle?

• Original Price of the car

• Your down payment amount

• Your credit score

• The loan term

• The interest rate

Tags

CCSS.7.RP.A.3

The ________ your credit score, the lower your interest rate.

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5