Write an analytical report detailing your findings and analysis for whether you should buy or lease a new car. Do not use Ebay, Swap-a-Lease or similar services, or newspaper advertisements. You must use dealership or manufacturer information, i.e., you cannot buy from an individual, and it must be a new vehicle. If you use this option versus working with a new car dealership, you will need to make a few phone calls to determine the license, registration, and other fees. Kelly Blue Book (www.kbb.com) may be helpful in determining car values.

Determine the cost of buying that new car over a term of 3 years. Include narrative documentation along with your calculations so I do not have to decipher your answers.

Determine the sales price - Do not negotiate. Determine the rate and amount for your states vehicle sales tax, license and registration, and any other fees associated with your purchase.

Estimate the value of the car in three years, aka Blue Book Value, and identify how you came up with that value.

Calculate the monthly payment based on a three-year loan at the going annual interest (you will likely need to contact your bank, credit union, or ask the dealer for the current interest rate). Assume that you will have a down payment only large enough to cover the sales tax, license, registration, and associated fees you identified.

Calculate the equivalent uniform monthly cost of owning the vehicle. Include as a salvage value the estimated value of the car at the end of the three years. Document all of your assumptions, costs, and calculations. Do not include the cost of maintenance, gasoline, oil, water, fluids, tires, and other routine expenses in your calculations. Only include the sales price, sales tax, license and registration, salvage value, and required fees.

Determine the cost to lease that same car.

Talk with the dealer to identify all of the costs for a 36-month lease. This includes the monthly lease payment, required down payment, and any return fees, etc. that are required. (Note: Look at the very fine print for the interest rate)

Calculate the equivalent uniform monthly cost of leasing. Include all up-front costs (including security deposits) and any end-of-lease costs. Show all assumptions, costs, and calculations. Do not include the cost of maintenance, gasoline, oil, water, fluids, tires, and other routine expenses in your calculations.

Include narrative documentation along with your calculations.

Write a narrative conclusion / justification for your choice of buying or leasing this vehicle.