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Discuss the advantages and disadvantages of buying versus leasing. Also, discuss the different types of leases and their merits.

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The solution provides a detailed discussion on the advantages and disadvantages of buying versus leasing, and also discusses the different types of leases and their merits. References are also provided.

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The main advantages of leasing a car are that after the lease term, you can turn the auto in, assuming that the conditions have been complied with, and get a brand new auto. Leases typically offer lower monthly payments than the payment for buying a car and the down payment is usually zero, although this is not the case 100% of the time. One of the biggest advantages of leasing is that the maintenance costs are lower, because as the lease nears its end, nothing has had a chance to significantly fall apart from excessive wear-and-tear. Also, the ...

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