Step 1:
A sale is different from a contract to sell. A sale is the transfer of ownership from one person to
another after the price for a good is paid. A contract to sell is the agreement of a sale, but is
expected to happen in the future. Whether it be the seller or the buyer, only one person has
ownership of a good and can be transferred through a sale.
Step 2:
A. If a person wants a new car but is not financially ready for a brand new car, there is the
option of leasing. Leasing is preferred sometimes because a person does not have to pay
the full price of a car and can trade cars in for another one to be up to date with the latest
technology in the automotive industry. Leasing a car also helps people save money since
they are paying less monthly and paying less sales tax. However since a vehicle is not
