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Car loans and insurance

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Question;Car;loans and insurance;Assignment 1: Discussion?Car Loans;and Insurance;The most common methods for;financing automobiles are through car loans or car leases. Car loans are;personal loans provided by banks and credit unions and can be repaid over a period;of years. However, with a car lease, a person never owns the car. The bank or;credit union selected purchases the car and rents it to you for a fixed;period. Once the fixed period of the lease expires, the financial institution;takes back the car and sells it. In this assignment, you will compare the;differences between car loans and car leases.;A car loan is one of the most;significant investments made by a typical American family. An alternative to;the traditional auto loan is the auto lease.;Using the readings for this;module, the Argosy University online library resources, and the Internet;respond to the following;?;Examine the differences;between a car loan and a car lease. Consider the following factors;o;Advantages and;disadvantages of both leasing a vehicle and purchasing a vehicle;o;The process you will;personally follow in making a decision on taking a car loan or leasing your;next car;?;Explain how leasing;versus financing a new automobile changes your insurance options/requirements;for the automobile. Consider that auto insurance requirements differ by;state.;?;Describe the;requirements specific to your state and whether insurance requirements differ;on a financed purchase over a lease.;?;Identify other;variables that influence one?s insurance premium.;?;Describe the actions;one can take to ensure that auto insurance premiums are not unnecessarily;high.;Write your initial response in 200?300 words. Apply APA standards to;citation of sources.;By Saturday, October 19;2013, post your response to the appropriate Discussion Area.;Through Wednesday, October 23, 2013, review and comment on at;least two peers? responses. Consider the following when posting your;responses;?;Different reasons;for selecting leasing over financing an automobile;?;Differences in;insurance rules in other states;?;Reasons why the;rules differ across states

 

Paper#51314 | Written in 18-Jul-2015

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