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Use the following data: Down payment (to finance vehicle) $ 4,200 Down payment for lease $ 1,300 Monthly loan payment $ 590 Monthly lease payment

Use the following data: Down payment (to finance vehicle) $ 4,200 Down payment for lease $ 1,300 Monthly loan payment $ 590 Monthly lease payment $ 460 Length of loan 48 months Length of lease 48 months Value of vehicle at end of loan $ 7,600 End-of-lease charges $ 650 a. What is the total cash outflow for buying and for leasing a motor vehicle with a cash price of $25,200? Total Cash Outflow Buying $ Leasing $ b. Based on your answers in part a, would you recommend buying or leasing? Leasing Buying

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