Question

What are the disadvantages of buying a car compared to leasing?

1) Higher upfront costs when buying a car
2) Responsible for maintenance and repairs when buying a car
3) Depreciation of the car's value when buying a car
4) Limited flexibility to switch to a different car when buying a car
5) Higher monthly payments when leasing a car
6) Limited mileage allowance when leasing a car
7) No ownership of the car when leasing a car
8) Restrictions on customization when leasing a car

Answer 1

The disadvantages of buying a car compared to leasing include higher upfront costs, responsibility for maintenance and repairs, depreciation of the car's value, limited flexibility to switch to a different car, higher monthly payments when leasing, limited mileage allowance when leasing, no ownership of the car when leasing, and restrictions on customization when leasing.

Step-by-step explanation:

The disadvantages of buying a car compared to leasing include:

1. Higher upfront costs when buying a car
2. Being responsible for maintenance and repairs
3. Depreciation of the car's value
4. Limited flexibility to switch to a different car
5. Higher monthly payments when leasing a car
6. Limited mileage allowance when leasing a car
7. No ownership of the car when leasing a car
8. Restrictions on customization when leasing a car

When buying a car, you have to pay a higher upfront cost and are responsible for maintenance and repairs. The car also depreciates in value over time, and you have limited flexibility to switch to a different car. On the other hand, when leasing a car, you have higher monthly payments, limited mileage allowance, no ownership of the car, and restrictions on customization.