Question

Jim is in the market for a car that will last for the next 10 years and has saved up some money for the purpose of a car. what’s the best transportation option for jim?

Answer 1

I think Electric car would be the best option for Jim.

The market now move very aggressively towards an eco-friendly car that would not burden the environment.
Even though the initial price would be higher, Jim will benefit form buying this type of car overtime

Answer 2

Utilizing his saving as a down payment and buying the car using an auto loan is the best transportation option for Jim.

Further Explanation:

Auto loan:

Auto loan is a type of loan offered for the purpose of car loan. Only the principle amount and the interest rate is being charged by the company or the bank who gives car loan. An upfront amount is paid at the initial time of the purchase of the car. A basic interest rate is charged which is not expensive for the borrower. So auto loan is quite secured method for purchasing a car on loan.  

• Buying a car using an auto loan will not be a best transportation option for Jim as he will lose all his savings on buying a car.
• Leasing a car is not a good option for Jim as leasing will not make him the car owner. Leasing will just let him use the car and pay a certain amount of money at a regular period to the lease contractor.
• A down payment for buying the car using an auto loan will be the best transportation option for Jim as it will not lead to high pressure submission of the money at initial process and he can best utilize his saving as a down payment.
• Renting the car daily will not be a good option for Kim as, it will be quite expensive.

Learn More:

1.Renting and owning

brainly.com/question/2288011

2. Rental housing agreement  

brainly.com/question/2358162

3. Insurance bill  

brainly.com/question/3787447

Answer Details:

Grade: High school

Chapter: Renting car

Subject: Business studies

Keywords:

Jim is in the market for a car that will last for the next 10 years and has saved up some money for the purpose of a car, what’s the best transportation option for Jim, buying a car using an auto loan, leasing a car, utilizing his saving as a down payment and buying the car using an auto loan, renting a car daily.