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Car Lease or Buy Quiz

Car Lease or Buy Quiz

by alexPublished: July 13, 2025

Deciding whether to lease or buy a car can significantly impact your finances and lifestyle. This quiz is designed to help you grasp the essential aspects of both options, ensuring you’re well-prepared to make an informed choice. Dive into the questions and see how much you know about the pros and cons of leasing versus buying a car. Good luck!
Car Lease or Buy Quiz
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1. What is one of the main advantages of leasing a car?
Consider the financial benefits.

Questions Overview

1. What is one of the main advantages of leasing a car?
Lower monthly payments
Unlimited mileage
Ownership at the end of the term
No need for insurance
2. Which of the following is a disadvantage of leasing a car?
Higher initial down payment
Limited mileage
Immediate ownership
Higher insurance costs
3. What happens at the end of a car lease term?
You own the car outright
You must return the car
You can keep the car without any further payments
You can sell the car
4. Which of the following is a benefit of buying a car?
Lower insurance costs
No mileage limits
Lower maintenance costs
No need for a loan
5. What is a common requirement when leasing a car?
A large down payment
A high credit score
A long-term loan
A trade-in vehicle
6. What is one of the financial benefits of buying a car?
Lower initial costs
No monthly payments
Equity in the vehicle
No need for insurance
7. How does depreciation affect leased cars?
Depreciation is not a concern
You benefit from depreciation
Depreciation increases your monthly payments
The dealership absorbs depreciation costs
8. What is a potential downside of buying a car?
Higher monthly payments
No ownership
Mileage restrictions
Higher insurance costs
9. Which of the following is typically included in a car lease agreement?
Unlimited mileage
Maintenance coverage
Ownership transfer
No down payment
10. What is one reason someone might choose to lease rather than buy?
Desire for long-term ownership
Preference for low initial costs
Need for unlimited mileage
Intention to modify the vehicle
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