Business, 16.10.2020 14:01 reterrickeyfox205
Assume that you've been shopping for a new car and intend to finance part of it through an installment loan. The car you're looking for has a sticker price of $18,000. Custom Vehicles has offered to sell it to you for $3,000 down and finance the balance with a loan that will require 48 monthly payments of $402.41; However, a competing dealership will sell you the exact same vehicle for $2,500 down plus a 60-month loan for the balance, with monthly payments of $368.74. Which of these two financing packages is the better deal?
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