Ownership vs. Renting: Making Informed Decisions

What percentage of Americans under 35 are renters?

• 20%

• 35%

• 66%

• 63%

Which of the following is a benefit of owning an item?

• No upfront cost

• Lower monthly payments

• Ability to resell

• No maintenance costs

What is a potential downside of ownership?

• Limited usage time

• No ability to modify

• Higher upfront costs

• No control over the item

Which of the following is a benefit of renting?

• Lower monthly costs

• Ownership of the item

• Higher upfront costs

• Long-term commitment

What is a disadvantage of renting?

• Ownership of the item

• No monthly payments

• Potential penalties for rule violations

• Unlimited usage time

In the car example, what is a downside of ownership?

• Unlimited mileage

• No maintenance responsibility

• No depreciation

• Depreciation as soon as driven

What is a limitation of leasing a car?

• Ownership after lease

• No need to return the car

• Limited mileage

• Unlimited mileage

What should you consider when deciding to own or rent?

• Only the resale value

• Only the upfront cost

• Only the monthly cost

• Both short-term and long-term goals

What is a recommended step before deciding to own or rent?

• Make a quick decision

• Ignore the fine print

• Shop around for options

• Avoid considering your budget

What does the decision to own or rent ultimately depend on?

• The item's color

• Your personal needs and duration of use

• The item's brand

• The popularity of the item