Tariq's short-term goal is to purchase a car, but his current situation does not provide the...

Tariq's short-term goal is to purchase a car, but his current situation does not provide the means. Which of the following choices would most likely provide the greatest longer-term benefit with the least risk and the lowest explicit cost?

		Borrow a car
		Lease a car
		Get a car loan
		Save for a car
		Buy a car anyway

Expert Solution

Since Tariq's current situation does not provide the means to purchase the car, buying the car is not an option for him.

Borrowing a car may not provide the greatest long term benefit as it has inherent risks too.

Leasing a car does not have the lowest explicit cost.

A car loan may not provide the greatest long term benefit as the car is a depreciating asset.

Answer is Save for a car

jeff jeffy answered 3 years ago

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