After deciding to buy a new car, you can either lease the car or purchase it on a 3-year loan. The car costs $32,000. The lease offer is for $450/month for 36 months, with only $99 due up front. If you buy the car with a 3-year loan, the APR is 7% with monthly compounding. You believe that in 3 years the car will be worth $23,000. Should you buy or lease?
1 answer
yes,buy
1 answer