lease - An agreement for the use of a vehicle, usually on an annual basis. 9.6Key Words to Know: Leasing Total Lease Cost = (Number of Payments × Amount of Payment) + Deposit + Title Fee + License Fee Why might you lease a vehicle instead of buying one?

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 9 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

Tashira Conley least a minivan for family use. She pays $ per month for 39 months. Her deposit was $1, She paid a $57.50 title fee and a $48.50 license fee. What is her total least cost? Example 10 Find the total lease cost. (39 × $229.00) + $1, $ $48.50 $8, $1, $ $48.50 = $10,037.00

Lease: Four-door car for 48 payments of $ per month. Deposit: $ Title fee: $60. License fee: $75. What is the total lease cost? Practice $13,349.81