Winnie Polk can buy a car for $10,250. The dealer will give her $1,500 for her old car if she uses their financing option, and she can finance the rest with 36 monthly payments of $275. Winnie could also borrow the money from a bank for a total cost of $576.50. How much would Winnie save by borrowing from the bank instead of financing through the dealer?

Question

Quizplus · Accepted Answer

The Answer of Winnie Polk can buy a car for $10,250. The dealer will give her $1,500 for her old car if she uses their financing option, and she can finance the rest with 36 monthly payments of $275. Winnie could also borrow the money from a bank for a total cost of $576.50. How much would Winnie save by borrowing from the bank instead of financing through the dealer?

Winnie Polk Can Buy a Car for $10,250