Microsoft Excel 4D: Loans and Leases, Protecting Worksheets, Locking Cells

Loans and Lease - What is the difference :

• When you purchase a car and borrow the money to buy it from a bank you legally own the car.
• Some car dealers don't want to wait until you visit a bank and will offer to lend you the money to buy the car, therefore they are able to make a deal right there in the showroom floor without allowing you a few days to get a deal with a bank.
• A lease allows you to "use a car" and make payments the same as a loan, however you don't actually own the car. At the end of the lease you give the car back.

Caution about leases:

• if you drive the vehicle more km than the lease agreement states you may have to pay extra
• if there is any extra wear and tear on a vehicle when you return it you may have to pay extra

Why would you lease:

• some people can't get a loan because of poor credit however they may get a lease
• some people find it easier to lease a vehicle and trade it in at the end of the term (1-5 years) and get another new car lease (no hassles of selling and buying)
• Sometimes leases are a good deal and sometimes it is cheaper to buy a vehicle and try to sell it when you are done with it.
• Sometimes you can buy the car you have been leasing at the end of the lease for a good deal.
• Some leases even allow you to keep the car at the end of the lease term, this is kind of like buying the vehicle, however technically you don't actually own the vehicle until the last payment is made (which may be better for tax reasons or perhaps you don't qualify for a loan).

This website is copyright protected see contact page for details.