Question

Given below are lease terms at the local dealership. What is the total cash due at signing?

Terms:
Length of lease: 30 months
MSRP of the car $15,500
• Purchase value of the car after lease: $9900
Down payment $2500
Monthly payment $425
-Security deposit $375
Acustion fee $500

A. 375
B. 3375
C. 3800 (✅️)
D. 3400

Answer 1

To calculate the total cash due at signing, we need to sum up the down payment, security deposit, and acquisition fee.

Given:

Down payment: $2500
Security deposit: $375
Acquisition fee: $500

Total cash due at signing:
$2500 + $375 + $500 = $3375

Therefore, the correct answer is B. $3375.