1. Leasing a Vehicle pp. 330-332 9-6 SECTION

2. Click to edit Master text styles Second level Third level Fourth level Fifth level 2 SECTION Copyright © Glencoe/McGraw-Hill 9-6 Section Objective Calculate: total cost of leasing a vehicle

3. Click to edit Master text styles Second level Third level Fourth level Fifth level 3 SECTION Copyright © Glencoe/McGraw-Hill 9-6 lease (p. 330) An agreement for the use of a vehicle, usually on an annual basis. Key Words to Know

4. Click to edit Master text styles Second level Third level Fourth level Fifth level 4 SECTION Copyright © Glencoe/McGraw-Hill 9-6 Total Lease Cost = (Number of Payments × Amount of Payment) + Deposit + Title Fee + License Fee Formula

5. Click to edit Master text styles Second level Third level Fourth level Fifth level 5 SECTION Copyright © Glencoe/McGraw-Hill 9-6 A Hard One to Pick p. 330 Why might Gomez lease a vehicle instead of buying one?

6. Click to edit Master text styles Second level Third level Fourth level Fifth level 6 SECTION Copyright © Glencoe/McGraw-Hill 9-6 Ralph Dunn leased a pickup truck for use in his lawn care business. He pays $199 per month for 60 months. His deposit was $2,500. He paid an $80 title fee and a $45 license fee. What is his total lease cost? Example 1

7. Click to edit Master text styles Second level Third level Fourth level Fifth level 7 SECTION Copyright © Glencoe/McGraw-Hill 9-6 Step: Find the total lease cost. (Number of Payments × Amount of Payment) + Title Fee + License Fee (60 × $199) + $2,500 + $80 + $45 $11,940 + $2,500 + $80 + $45 = $14,565 Example 1 Answer

8. Click to edit Master text styles Second level Third level Fourth level Fifth level 8 SECTION Copyright © Glencoe/McGraw-Hill 9-6 Tashira Conley least a minivan for family use. She pays $229.00 per month for 39 months. Her deposit was $1,000.00. She paid a $57.50 title fee and a $48.50 license fee. What is her total least cost? Example 2

9. Click to edit Master text styles Second level Third level Fourth level Fifth level 9 SECTION Copyright © Glencoe/McGraw-Hill 9-6 Step: Find the total lease cost. (39 × $229.00) + $1,000.00 + $57.50 + $48.50 $8,931.00 + $1,000.00 + $57.50 + $48.50 = $10,037.00 Example 2 Answer

10. Click to edit Master text styles Second level Third level Fourth level Fifth level 10 SECTION Copyright © Glencoe/McGraw-Hill 9-6 Lease: Four-door car for 48 payments of $269.69 per month. Deposit: $269.69. Title fee: $60. License fee: $75. What is the total lease cost? Practice 1

11. Click to edit Master text styles Second level Third level Fourth level Fifth level 11 SECTION Copyright © Glencoe/McGraw-Hill 9-6 $13,349.81 Practice 1 Answer

12. Leasing a Vehicle 9-6 END OF SECTION