37. Comparing Cash and Credit Purchases It sputtered and squeaked and with a small hesitation followed by an abbrevioted lunge, it was finally over, Ol' Rellable, the car Jamie Lee had driven since she first earned her driver's license at the age of 17 , completed its last mile. Thirteen years and 140,000 miles. later, it was time for a new vehicle. After skimming the Sunday newspaper and browsing the online advertisements, Jamie Lee was ready to visit car dealers to see what vehicles would interest her, She was unsure if she would purchase a car brand new, used, finance with a down payment, or tease. No money down and only $219 a month," Jamie Lee read, "with approved credit" Sounded like an offer she would be interested in. Jamie Lee knew she had a good credit rating as she made sure she paid all of her bilis on time each month, and kept a ciose eye on her credit score ever since she was the victim of identity theft several years ago. The more she thought about the brand new car, the more excited she became. That new car fit her personality perfectly! As Jamie Lee inquired about the advertised vehicle with the new car salesperson, her excitement quickly turned to dismay. The automobile advertised was avallable for $219 a month with no money down, based on approved credit, but Jamie Lee unexpectedly found that there were further qualifications in order to get the advertised price. The salesman explained that the information in the fine print of the newspaper advertsement stated that the price was based on att of the following criteria: beling octive in the mititary, a college graduate within the last three months, a current lessee of the automobile company, and having a top tier credit score. Which he noted was above 800 if Jamie Lee did not meet all of the qualifications, she would not recelve the price odvertised in the promotion. But, he noted, he could get her in that vehicle, but it would cost her an additional $110 per month. Two hundred and seventy-five doliars was the maximum Jamie budgeted for a monthly payment. This vehicte was outside of her flnanclat plan. Jamie Lee had to start over from scratch. She decided that she must fully research the vehicle purchase process before browsing at another dealership She felt she was getting caught up in the moment, and vowed to do her research before speaking with another salesperison. Complete the table below to compare the costs and benefis of a cash purchase versus a credit purchase. See for the necessary data. "Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Research for Nissan Versa Sedan 2016 * speed automatic *Air conditioning *Bluetoother Hands-free Ehona ciosem - Jamie Lee intends to use the car for at least five years before selling or trading it for a small SUV. - Note that there is a 5500 rebate offer for cash purchase. - The tax is calculated using the Total cost of vehicle