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Case Study 1 Buying vs Leasing 28 marks Jim has chosen the car he wants...

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Case Study 1 Buying vs Leasing 28 marks Jim 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 following 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 for 48 months If Jim buys the car the finance fee is 54 If he leases the car the finance fee is 36 a Create a deal review and a lease quote for Jim s car see attached b What is the difference in monthly payments c What is the total cost in each case d What factors should Jim consider as he decides whether to buy or lease

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