Based on the following data, prepare a financial comparison of buying and leasing a motor vehicle with a $24,000 cash price: (LO 6.2) Down payment (to finance vehicle), $4,000 Down payment for lease,...

Based on the following data, prepare a financial comparison of buying and leasing a motor vehicle with a $24,000 cash price: (LO 6.2)

Down payment (to finance vehicle), $4,000                          Down payment for lease, $1,200

Monthly loan payment, $560                                                      Monthly lease payment, $440

Length of loan, 48 months                                                                            Length of lease, 48 months

Value of vehicle at end of loan, $7,200                                    End-of-lease charges, $600

What other factors should a person consider when choosing between buying or leasing?