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Neo
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Experience:  BS Accounting
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neo its bobbo, can you assist with p20-4 in the intermediate

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neo its bobbo, can you assist with p20-4 in the intermediate accounting book.
Submitted: 5 years ago.
Category: Homework
Expert:  Neo replied 5 years ago.
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Customer: replied 5 years ago.

neo i have a question can you help with this.

 

Automobile Leasing vs. Automobile Bank Loan /// { for personal use }

A. Which is better ?

B. WHY ??? Explain / Discuss in detail !

Obtain the necessary data and perform two { 2 } ACTUAL comparisons. Use REAL and current data and information from 2 separate and distinct automobile dealerships selling new automobiles. You may use data from the same or different brands of automobiles ... but there must be 2 different and distinct auto dealerships. One bank may be used for all comparisons. This relates to the purchase or lease of a NEW vehicle ONLY. The same vehicle, with the same m.s.r.p., must be used within each comparison for it to be valid.

For each comparison: After your analysis as specified below, conclude for each of the 2 potential 'lease vs. purchase' transactions which is a better deal and THOROUGHLY explain WHY. {List auto dealership and bank info & contact data.} .... N.B. >>> there is NO ‘right' or ‘correct' answer.

Obtain the complete lease data {including the true/real ‘A.P.R.' used in the lease} and compare to a bank loan { use REAL bank loan data } ... with the same { if possible } approximate up-front $$$ required to 'drive away' with the automobile.

Use the SAME TERM for the leases and bank loans >>> such as 3, 4, or 5 years for both leases and loans. Each comparison may have a different term. Ignore the price of the ‘tags' / license plates.

Keep in mind that sales tax for a leased vehicle is usually paid monthly with the lease payment

Keep in mind that leases are paid on day 1 of a period and bank loan payments are due at the end of each period.

Keep in mind the Lease insurance requirements are most often greater and will be more expensive than that required by a bank.

Students outside of the United States {50 states} contact me for an alternative.

Expert:  Neo replied 5 years ago.
I am very sorry. I do not think I can help on that one.

Please create new post for this so that the other experts may see.