Total cost of ownership for a personal vehicle

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Provide a description of vehicle #$1,$ a new car. Calculate its total cost of ownership, being as detailed as possible in your costs.

Note: All cash flows should be negative $($costs$),$ except for Salvage Value, which will be the only positive cash flow. Salvage Value will only occur ONE time, during the final year of ownership.

Calculate the Net Present Value of this series of cash flows using a discount rate of $5\%.$

Provide a description of vehicle #$2,$ a comparable used car. Calculate its total cost of ownership, being as detailed as possible in your costs.

Provide a description of vehicle #$2,$ a comparable used car. Calculate its total cost of ownership, being as detailed as possible in your costs.

Note: All cash flows should be negative $($costs$),$ except for Salvage Value, which will be the only positive cash flow. Salvage Value will only occur ONE time, during the final year of ownership.

Calculate the Net Present Value of this series of cash flows using a discount rate of $5\%.$

REACTION: Discuss your two options below. Which seems like the better financial decision? Explain, explain, explain...