your last vehicle purchase and the decision making process you engaged in while deciding what vehicle to purchase or if a new vehicle was the right decision. While analyzing your decision, keep in mind that everything from the interest rates to the price of gasoline is driven by the economy in one way or another.
Develop a 1,400-word analysis of your decision-making process in which you include the following:
A basic assumption of consumers making purchases of large items requiring financing is that their household cash flow will be adequate to cover the monthly loan payments. For most Americans, this also means assuming continuation of their present wages. But many jobs are sensitive to rises and falls in the business cycle, as witnessed by the 10% unemployment rate of the past “Great Recession.”
Evaluate the financial trade-offs made when making your purchase. This includes lower maintenance costs for a newer vehicle versus a car payment and higher insurance among other factors.
Cite a minimum of three peer reviewed sources.