Comparing the cost of new and used cars

https://docs.google.com/spreadsheets/...
A response to "Comparing the cost of new and used cars" made by Bank of America

I took a look at the numbers that I was given and came to the conclusion that some values were screwed to show that the new car would be a small cost up from an old car (About $2,000 over 5 years)

After some review, I calculated that the difference between buying a new car versus an old car would be more like $9,000 over 5 years. That's more than 4 times the difference.

I would caution the buyer about buying new cars, as the cost is more significant than the advertisement would lead you to believe.

$7,000 is a lot of money for a misunderstanding of mathematics.

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