Cheryl got a new job that pays extremely well. This is good because two years ago she was forced to go into bankruptcy when she couldn't repay her debt. She would like to purchase a used car so she can drive to work. However, she knows it will be hard to get the bank to provide her with a car loan at favorable interest rates due to her recent bankruptcy. She has therefore saved her money diligently so she will have enough to pay for the car outright. In this case, Cheryl lacks

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Cheryl lacks credit due to her recent bankruptcy, which makes it difficult for her to obtain a car loan at favorable interest rates. However, she has saved enough money to purchase the car outright and therefore has buying power and discretionary income. Her willingness to buy is also not in question as she is actively looking for a car.

Cheryl Got a New Job That Pays Extremely Well