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:

1. Pay $20 000 cash upfront.
2. 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.

Answer rating: 100% (QA)

When evaluating the pros and cons of both options for Johns vehicle purchase its important to consider the financial implications and individual circumstances Heres some advice to help John make an in... View the full answer