Ms. Salinas also has the option to lease the car. The car salesperson has explained that a lease is an agreement in which she must make equal monthly payments for a
specific period of time. At the end of the lease, she will not own the car but must
return it to the dealership. At the end of lease there will be an option to purchase the
car at a predetermined price. It is possible that end-of-lease fees and charges for
excess mileage will be accessed at the end of the lease period.
Lease Terms
$275 per month for 36 months
$2,500 at signing plus tax, title, and license fees
Although the monthly payment on the lease is much cheaper than the loan purchase
monthly
payment, Ms. Salinas decides to investigate further.
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