For Maria, one of the most exciting aspects of landing a fulltime job was being able to buy a different car! Even though she will be working in an urban area, she will need a reliable vehicle to travel to client locations outside the city. Maria is trying to decide if she should buy a new vehicle or a slightly used vehicle, or lease a newer vehicle. She has had her eye on a dazzling blue SUV; it stares at her every time she drives by the lot. But she's not sure if she can justify its cost.
Here are the costs and benefits she has gathered for each of these options:
tableBuy New,Buy Used,Lease MidnightBlue SUVMonthly payment,$$table$ plus $ per mile ifover miles per yearTime frame, years, years, yearsWarrantytableExcellent for milestableExcellent for next milesonlyExcellent for length of leaseFull coverage insurance,$ per month,$ per month,$ per monthOperating cost$ per mile,$ per mile,$ per miletableExpected mileage peryearSafety features,Maximum,Moderate,Maximum
Identify the relevant costs associated with each of Maria's three options. Round answers to decimal places, e
Buy New
Buy Used
Lease Midnight Blue SUV
Total average monthly cost
$
$
$