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Confidential Role Information for BUYER Your car was stolen and wrecked two weeks ago. You do a lot of traveling in your job, so you

Confidential Role Information for BUYER
Your car was stolen and wrecked two weeks ago. You do a lot of traveling in your job, so you need a car that is economical and easy to drive. The Volkswagon Jetta that was advertised online looks like a good deal, and you would like to buy it right away, if possible.
The insurance company gave you $8,500 for your old car. You have only $1,500 in savings, money that you have intended to spend on a long-overdue vacation - a recreational opportunity that you really don't want to pass up.
Your credit has been stretched for some time, so if you have to borrow any money, it will have to be at an interest rate of prime plus 5%. Furthermore, you need to buy a permanent replacement for your old car quickly, because you have been renting a new car (a Chevrolet Malibu sedan) for business purposes and when the insurance-covered rental benefit runs out (as it will, shortly) the rental costs will become prohibitive.
This Jetta is the best option you have seen. As an alternative, you can buy immediately a higher-mileage 2008 Jeep Liberty ( automatic transmission, air conditioning, AM/FM/CD/MP3 stereo, 6-cylinder engine, 87,000 miles in very good condition) for $0,100(the trade-in value). The Liberty's fuel efficiency is only 17-21 miles per gallon, and it will depreciate faster than the Jetta.
The seller of the Jetta is a complete stranger to you.
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