The Colvilles are buying a new car. The cash price is $35,000.00. They will make a down payment of 20% or $5,000. The balance will be covered by an installment loan. The loan will be repaid in 48 monthly payments of $651. The annual percentage rate for the loan is %. (Round your answers to two decimal places.)

Some disadvantages to leasing a car is that you are counting on someone to give you money every week or month depending on what you decided and if they don't have all of it well what if you needed that money now you as well have to pay not in full. a disadvantages to purchasing a new vehicle is if it is used then not all the time will absolutely everything work. its almost like a trail and era. although if it is a new car they will try to though all these specials and deals at you in your lease and it can be very overwhelming if you are not use to it.