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英国Paper代写:An Analysis on Lease and Purchase Vehicle

2019-04-15 | 来源:51due教员组 | 类别:Paper代写范文

下面为大家整理一篇优秀的paper代写范文- An Analysis on Lease and Purchase Vehicle,供大家参考学习,这篇论文讨论了租赁与购车分析。有数据表示,汽车的价格对决定是租还是买并没有多大影响。但由于车辆的使用会影响车辆的残值,所以车辆的类型可能会有更大的影响。在大多数情况下,如果用户不关心车辆的所有权,租赁会更好,因为它可以让用户随时换车,而且每月支付的费用更便宜。另外,在做决定时也要考虑质量因素,如能否保持汽车的良好质量、个人偏好等。

Lease and Purchase,租赁与购车,论文代写,essay代写,paper代写

This analysis aims to give suggestions on whether to lease or purchase vehicle quantitatively. The initial assumption of this analysis before data calculation is that there are maybe different quantitative results toward this question according to vehicles’ types and price intervals.

Therefore, this research divided vehicles into four types, sedan, coupe, SUV and truck and each type of vehicle is categorized into three different price intervals, 20000-55000, 55000-85000, 85000-max. The detailed price information of 11 vehicles is collected from Edmund.

To decide whether to lease or to purchase, firstly, I need to calculate the monthly payment of leasing a vehicle and purchasing a vehicle. Thus, MSRP, money factor, lease term, residual rate, down payment rate, interest rate and loan term are needed (Jones). To simplify the calculation, relative fees, taxes and rebates are not considered since they have little influence but great uncertainty. Meanwhile, the down payment rate is settled as 20% as a conventional rate (Montoya). According to Edmund, most cars have a residual value of between 45 and 60 percent for a 36-month lease, therefore, this analysis assumes the residual rate of 24-month-lease vehicle is 65% and the residual rate of 24-month-lease vehicle is 65%. There are four types of car loans according to time period, 24-month, 36-month, 48-month and 60-month. Adopting the PMT formula, this analysis easily found out the monthly loan payment. By comparing the lease monthly payment and loan monthly payment, it is obviously that the monthly payment for leasing a car is much less than loan monthly payment. Therefore, for those who like to switch a vehicle every several years, to lease is much better than to purchase.

Residual value of the vehicle greatly influences the monthly leasing payment. Therefore, after comparing the monthly payments of the settled types, the analysis used goal seek to find out the residual value which allows the 36-month lease monthly payment to equal to 60-month loan monthly payment and the residual value which allows the 24-month lease monthly payment to equal to 60-month loan monthly payment. The result is 33% and 49%, respectively. As mentioned above, usually, for a 36-month lease, the residual value ranges from 45% to 60%. Logically, the shorter the leasing term, the higher the residual rate. Therefore, only if the uses overuse the leased vehicles, the monthly lease payment will still be cheaper than monthly loan payment.

Since the longer the payback period, the smaller the monthly loan payment, this research also used goal seek to find out the loan term that allows the 36-month lease monthly payment to equal to 60-month loan monthly payment. The answer is 89 months. Therefore, only if the payback period is long enough, can the monthly loan payment to be close to the monthly leasing payment.

To sum up, the key findings of this analysis overturn the initial assumption. The price of the vehicles has few weight to determine whether to lease or to purchase. However, the types of vehicle may have more influence since the usage of the vehicles will influence the residual value of the vehicles. Under most circumstances, if the users don’t care about the ownership of the vehicles, leasing is better since it enables users to change cars without keep buying and selling cars and with a cheaper monthly payment. Although the quantitative analysis suggests to lease than to purchase, qualitative considerations should also be thought about upon making the decision, such as ability to maintain the good quality of the car, personal preference, etc.

Reference

Jones, Matt, Calculate Your Own Car Lease Payment. https://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

Montoya, Ronald, How Much Should a Car Down Payment Be?. https://www.edmunds.com/car-buying/how-much-should-a-car-down-payment-be.html

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