im has chosen the car he wants and must now decide whether

Last updated: 6/17/2023

im has chosen the car he wants and must now decide whether to buy or lease it The car has an MSRP of 21 977 and a residual factor of 34 Jim negotiates a 500 discount and must pay the ollowing additional costs 660 freight charge 100 tire air tax 75 gas tax 85 administration fee 74 licence plate fee 20 gas fee Regardless of whether Jim buys or leases the car the financing is 6 9 compounded monthly fo 8 months If Jim buys the car the finance fee is 54 If he leases the car the finance fee is 36 Term of Lease MSRP Gross Capital Cost Trade in Allowance Down Payment Total Capital Reduction Net Capital Cost Residual Factor Residual Value Depreciation Base Monthly Payment Monthly HST 13 Lease Quote Monthly Payment Interest Rate 1st Payment HST on Down Payment 13 1st Year Fees Other Fees HST on Upfront 13 Security Deposit Total Initial Payment