Question

Read the scenario. Brad has a steady job, earns a solid income, and plans to live in a nearby city for the long term. He is looking to purchase both a car and a place to live, and he is very interested in building up equity and credit. Which of the following illustrates the most economically sound choice for Brad?
buying both a car and a home
leasing both a car and home
buying a car and leasing a home
leasing a car and buying a home

Answer 1

Answer is: buying both a car and a home.
If Brad has a steady job, earns a solid income, he is able to buy both a car and a home.
Lease is arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset (in this case car and house). The lessor is the legal owner of the asset and the lessee (Brad) has the right to use the asset in return for regular rental payments, this is not good option for Brad.

Answer 2

The statement that illustrates the most economically sound choice for Brad is :buying both a car and a home.

Leasing or buying

Based on the given scenario since he has a job  that is steady and earn an income regularly the best choice is for him to buy both a car and a home instead of leasing them.

Buying both car and a home will help him to save cost which is the cost of having to to pay installment on either the car or the home if it was lease out to him because he has a steady job and earn solid income.

 

Inconclusion the statement that illustrates the most economically sound choice for Brad is :buying both a car and a home.

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