Question

Given below are lease terms at the local dealership. what is the total cash due at signing? terms: length of lease = 36 months msrp of the car = $27,500 purchase value of the car after lease = $17,500 down payment = $3400 monthly payment = $425 security deposit = $375 acquisition fee = $500

Answer 1

The answer is $1300.

Explanation:

The total cash due at signing of the lease for the vehicle you want to take ownership of is the sum of the first month payment, security deposit, acquisition fee and applicable state tax. From the given parameters, these details are:

Monthly payment: $425

Security deposit: $375

Acquisition fee: $500

Since the tax details are not given, the total cash due at signing is $425 +$375 +$500 = $1300.

Answer 2

Correct answer for apex is 4,700