Question

Option A to buy new has a monthly payment of 338 dollars for 60 months, up-front cost of 2,500 dollars, and 275 dollars a month for insurance and gas. Option B to lease new has a monthly payment of 229 dollars for 36 months, up-front cost of 3,925 dollars, and 275 dollars a month for insurance and gas. Option C to buy used has a monthly payment of 250 dollars for 36 months, up-front cost of 2,000 dollars, and 225 dollars per month for insurance and gas. Based on your budget, which transportation option is the best financial decision for you? Explain your answer in at least two sentences.

Answer 1

on edge

Step-by-step explanation:

Option C is probably the best choice for my budget. The other options will require too high of an up-front cost and high monthly payments. They also include restrictions.

Answer 2

Answer: Option C is the best financial decision.

Step-by-step explanation:

Given Data:

Option C

Monthly payment = $250 For 36 months

Upfront = $2,000 ( down payment ).

Insurance and gas = $225/month.

Option C, is a more economical Transportation option because it’s total cost is lesser which is $11,225 compared to option A which is $23,055 and option B $12,444