BUSINESS ADMINISTRATION
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You get to use a car for a specific time period by making daily payments.
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You get to use a car for a specific time period by making monthly payments.
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You pay monthly installments, and own the car after you pay your last installment.
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Detailed explanation-1: -Professionals at the ‘Senior’ designation level and above are eligible for the car lease option. Eligible professionals may opt for a fully loaded lease that covers insurance and maintenance for a three year period.
Detailed explanation-2: -Lease payments work like rental fees you pay for the right to use the owner’s asset under specified terms. The lease payment amount includes costs for monthly depreciation, finance charges, and applicable taxes.
Detailed explanation-3: -A lease payment amount is determined by a variety of different considerations, such as an asset’s value, local residual values in a given neighborhood, discount rates, and a lessee’s credit score.
Detailed explanation-4: -A short-term car lease tends to last between three months and one year. Typically, the monthly leasing costs are much higher for shorter contracts, meaning that even the cheapest short-term car lease can be very expensive.