A vehicle lease has several costs. Which of the following is the amount paid monthly and the number of payments?

Question

Quizplus · Accepted Answer

The amount paid monthly is part of the payment schedule, which also includes the number of payments. The capitalized cost is the total price of the vehicle, the money factor is the interest rate, the residual value is the estimated value of the vehicle at the end of the lease, and the trade-in value is the value of a vehicle being exchanged for the leased vehicle.

A Vehicle Lease Has Several Costs