One difference between obtaining a car with a lease or a loan is that _____.

a. a loan will not have any additional fees or payments that need to be considered while a lease comes with a handful of additional charges

b. a lease will not have any additional fees or payments that need to be considered while a loan comes with a handful of additional charges

c. a loan finances the total purchase price of the car while a lease finances only the depreciated value and related fees

d. a loan finances the depreciated value of the car with related fees while a lease finances the total purchase price of the car

THE ANSWER IS: C. a loan finances the total purchase price of the car while a lease finances only the depreciated value and related fees

One difference between obtaining a car with a lease or a loan is that: a loan finances the total purchase price of the car while a lease finances only the depreciated value and related fees.

What is the difference between a Loan and a Lease?

A loan is suitable for a property that you wish to possess at the maturity date, i.e. anything with long-term worth.

On the other hand, a lease is ideal for items that deteriorate gradually and will not retain their worth beyond the period.

The most significant contrast between a lease and a loan is the manner in which the finance costs are paid.

The interest on a loan is amortized throughout the period. i.e. your consumer pays more interest at the start and more principal in the end.

Although leasing is not free, the financing charges are predetermined all through the period and are not deducted from the borrowed amount.

From the information given:

One difference between obtaining a car with a lease or a loan is that: a loan finances the total purchase price of the car while a lease finances only the depreciated value and related fees.

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