Jackson makes a contractual agreement with a car rental company to use a Chevy Silverado pickup truck for a specified period of time during which he has to pay the company a monthly fee over the course of that period.At the end of the specified period,Jackson will have to return the vehicle to the company unless he decides to purchase it.Which of the following policies is the car rental company employing in this scenario?
A) Leasing
B) Everyday low pricing
C) Seasonal discounts
D) Quantity discounts
E) Installments

Question

Quizplus · Accepted Answer

A lease involves the payment of a monthly fee over a specified time period (usually three years). At the end of the specified period, the person leasing the product has to purchase it or return it, while the purchaser still owns that product.

Jackson Makes a Contractual Agreement with a Car Rental Company