Read the case studies below. Compare and contrast the costs and benefits of leasing/renting vs. buying for the person in each case. After analyzing each case, evaluate and explain what you feel is the best decision for each individual. Be sure to include the justification for your decision in your explanation.

Jackson is a recent college graduate who just got his first job. He commutes approximately 35 minutes each way to his new workplace. Jackson does not have a lot of money saved and makes a modest salary. He plans on moving up in the company to a higher paying position in the next few years and will likely upgrade to a better car as a testament to his success. Should he buy or lease a new car?

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Case Study Jackson Jackson a recent college graduate is faced with the decision of whether to buy or lease a new car considering his current financial ... View the full answer