Economic Analysis Lease or Buy an Automobile Group 2 OrganizersDaniel Abdel-Masih, Timothy Krisatia TechiesVinh Tran, Timothy Krisatia SummarizersMark.

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Presentation transcript:

Economic Analysis Lease or Buy an Automobile Group 2 OrganizersDaniel Abdel-Masih, Timothy Krisatia TechiesVinh Tran, Timothy Krisatia SummarizersMark Tomooka, Timothy Krisatia

Analysis Premise Based on sound economic theory and various non-economic factors, should an individual buy a car or choose to lease one?

Analysis Parameters Male, 25 Years of Age Straight out of college with a B.S. Salary of $55,000 Lives in the Greater Los Angeles Area Unmarried

Vehicle of Analysis Honda Accord V6 EX –Good entry level car –Reliable –High resale value –Comfortable

Cost Choice Options Lease 3 Year closed end lease Service plan included in lease Buy 3 Year fixed APR loan Service plan purchased additionally

Plan of Action Contact local Honda dealerships for pricing and options Contact local banks for loan/financing options Contact insurance companies for pricing quotes Discuss with piers personal preferences and pro/cons

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