Question
you are considering purchasing a 2023 RX Hybrid for $46,720. The Lexus dealer is offering the following three options to own or lease the vehicle:
you are considering purchasing a 2023 RX Hybrid for $46,720. The Lexus dealer is offering the following three options to own or lease the vehicle:
Option 1: Recieve a $1000 rebate on the price of the car and finance the balance over 5 years at 4.99% interest.
Option 2:Finance the vehicle for 60 months at 0% interest.
Option 3: Lease the vehicle for 36 months with a $801 monthly payment and $2,800 due at signing.
a. What is the monthly payment and total cost for Option 1? b. what is the monthly payment for Option 2? c. what Option would you reccomend based on the total cost of the car? d. what other factors should you consider? provide 3 advantages and 3 disadvantages associated with each option considering the total cost, residual value of the car, etc.
please show all calculations on excel
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