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Leasing a Car May Make Sense for Some People but There

question 165

Essay

Leasing a car may make sense for some people but there are disadvantages to leasing.What are the disadvantages to leasing a car verses purchasing the car outright?


Definitions:

Contract

An agreement which is legally binding and involves more than one party, enforceable by legal means.

Verbal Agreement

An agreement made by spoken words which may be legally binding, though often harder to prove than written agreements.

Revocation

Withdrawal of an offer before acceptance (must be communicated to the offeree).

Counter-Offer

A proposal made in response to an original offer, differing in terms and thereby rejecting the original offer.

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