Gavin Anderson is trying to decide whether to lease or purchase a new car costing $18,000. If he leases, hell have to pay a $600 security deposit and monthly payments of $425 over the 36-month term of the closed-end lease. On the other hand, if he buys the car then hell have to make a $2,400 down payment and will finance the balance with a 36-month loan requiring monthly payments of $515; hell also have to pay a 6 percent sales tax ($1,080) on the purchase price, and he expects the car to have a residual value of $6,500 at the end of 3 years. Gavin can earn 2 percent interest on his savings. Use the automobile lease versus purchase analysis form in Worksheet 5.1 to find the total cost of both the lease and the purchase and then recommend the best strategy for Gavin. Beyond the financial costs associated with leasing vs purchasing, explain other benefits and risks associated with both of these options.