Solution
Leased cost for 3 years = $3000 + 250 *36 [ 3 years = 36 months]
= 3000 + 9000
Leased the car for 3 years cost you = $12,000
The residual value = $10,000
Assume that you bought the car and used for 3 years and sold for $10,000
Cost of the car = $24,000
Sold after 3 years for $10,000
Your expense in 3 years = $24,000 - 10, 000 = $14,000
By comparing these two options, leasing the car will benefit you since it cost only $12,000.
Therefore, lease car is less expense.
The cost for buying the car and selling it after three years would be $14,000.
That is the answer. :)
Thank you.
