Elena just completed a 2-year technical training program. She’s off to a successful start working as an independent contractor, paying off her student loan and a second loan to buy a van. She just landed a project that requires specialized equipment. She planned to rent the equipment, but the vendor has offered her a good deal to buy it instead. She’d need a 3-year loan to buy it, but she could use the equipment on future jobs, too.
Given Elena’s situation, which decision do you think is best for her?