Exam 2 - Critical Thinking Question 2 Question: Your cousin is aware that you are taking a finance class and has come to you for advice. He wants to purchase a new (not leased) vehicle. The models he is currently exploring offer special financing options. The price range for his favorite models is between $19,000 and $23,000, each. He may choose $1,800 customer cash (reduetion of price) and a 7% interest rate for up to 60 months; or he may choose a special 1.5% interest rate for up to 60 months. The maximum amount of funds he has available for a monthly payment is $500. He does not have savings for a down payment. He is seeking your advice as to which finaneing option he should choose and the term of financing (3,4, or 5 years)