Angela is looking to buy a car and has come to you to do a car loan application. She is considering going through a dealership but thought she would come speak with you first. After doing the application, she has been approved for a $20,000 loan with a monthly payment of $325. Please discuss the following with Angela: (8 marks)

a) Explain the differences between obtaining financing for a car purchased between going through a bank versus adealership.

b) Calculate her TDS if her gross income is $6,200 per month, she has $1,000 in her savings account, her mortgage payment is $1,400 per month, her property taxes are $200 per month, her heating payments are $150 per month, she has a student loan with payments of $400 per month, and she spends $800 per month on groceries.

c) Based on TDS, does she have the capacity?