John went to two dealerships to find the best deal on a luxury SUV for his company to purchase. From which dealership should John buy the SUV so that the total cost of the SUV is the least expensive?
Dealership 1 | Dealership 2 |
• Purchase price: $49,999 | • Purchase price: $48,499 |
• Financing option: 2% financing with $8000 down payment | • Financing option: 6% financing with no down payment |
• Monthly payments: $892.48 per month for 48 months | • Monthly payments: $856.82 per month for 60 months |
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