Scenerio you decided that a new car is in order and must, Ask an Expert

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SCENERIO

You decided that a new car is in order, and must determine the most efficient way of purchasing the vehicle.

You found the perfect vehicle a 2012 Explorer, Ford is offering zero percent financing.

The sticker price of the Explorer is $37,095.00. Of course there is state sales tax (6%) and transfer and tag fees of $1,500.

You can pay the Ford Dealer cash for the entire amount, or you can pay for the vehicle in installments of 36 monthly payments (0% financing) or you could lease the vehicle for 36 months (45,000 miles) for $538.62 per month, and at the end of the lease the buy out option is $15,458.95pluse $1,500 in tags and transfer fees and more taxes. Also, compare lease to installment purchase.

Which of the options provides the best buy for your money?

The bank will pay 3% per annum on all deposits (compounded monthly)

Determine which is the best alternative and provide a one page written analysis of your findings.

Attachment:- CAR CASE Scenario.rar

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92793031

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