ohn is considering purchasing a brand new vehicle, that will cost him around $20, 000 Currently, he has $25,000 in his savings account He has 2 options for this purchase Pay $20 000 cash upfront Pay a 10 down payment, followed my monthly payments of up to $600 for the next 3 years as he will also be paying an interest Evaluating the pros and cons of both options, provide him with financial advise regarding this large purchase

Question: ohn is considering purchasing a brand new vehicle, that will cost him around $20, 000. Currently, he has $25,000 in his savings account. He has

ohn is considering purchasing a brand new vehicle, that will cost him around $20, 000. Currently, he has $25,000 in his savings account. He has 2 options for this purchase:

Pay $20 000 cash upfront.
Pay a 10% down payment, followed my monthly payments of up to $600 for the next 3 years as he will also be paying an interest.

Evaluating the pros and cons of both options, provide him with financial advise regarding this large purchase.

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