Gina has to pay monthly installments for a period of 24 months to her car dealer. After 24 months she can either return the car or buy it at its lower resale value. Has she bought the car on a loan or is it on lease?
she bought the car on a lease, because a lease allows you to pay monthly for 24 month and when that time is up, you can buy it out at the remaining balance or return it and get a new car and start a new lease.
