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Buying vs Leasing Given the below lease terms at a local car dealership, what is the total cash paid by the end of the lease when at signing the dealership required a down payment, security deposit, acquisition fee at signing and all the monthly payments paid? Length of lease 48 = months MSRP of the car = $29,750 Purchase value of the car after lease = $19,900 Down payment =$2,800 Monthly payment =$595 Security deposit =$575 Acquisition fee =$400

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To calculate the total cash paid by the end of the lease, we need to add up the down payment, security deposit, acquisition fee, and all the monthly payments.

Down payment = $2,800
Security deposit = $575
Acquisition fee = $400

Total initial payment = Down payment + Security deposit + Acquisition fee
Total initial payment = $2,800 + $575 + $400 = $3,775

Total monthly payments = Monthly payment x Length of lease
Total monthly payments = $595 x 48 = $28,560

Total cash paid by the end of the lease = Total initial payment + Total monthly payments - Residual value
Residual value = Purchase value of the car after lease = $19,900

Total cash paid by the end of the lease = $3,775 + $28,560 - $19,900
Total cash paid by the end of the lease = $12,435

Therefore, the total cash paid by the end of the lease, including the down payment, security deposit, acquisition fee, and all the monthly payments, is $12,435.
User Ember Freak
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