Complete Gas & Maintenance Cost Analyses on Each Vehicle

Name______

Car Project Your Task:  Find the “car of your dreams” as well as one that is more realistic for a newly graduated high school student to own.  Find a loan to finance each vehicle.  Complete Gas & Maintenance cost analyses on each vehicle  Compare 2 insurance providers’ premiums for the vehicles.  Record the total cost per month for each vehicle and reflect on which one works best into your budget and lifestyle

Task 1: Car of your Dreams…. And some realistic ones too!

Using the internet, classified ads and Blue Book (http://www.kbb.com), find the car of your dreams. Make sure this vehicle is decked out with whatever you want in a car. Have fun! Complete the following information on this vehicle.

Make ______Year ______Model ______Current Mileage______Gas Mileage City______Highway______Engine Size ______Buy or Lease ______Price______Features ______

Now use the internet, classifieds and Blue book to find 3 vehicles that are realistic for a newly graduated high school student to own and afford. Keep in mind your salary of $1800 a month, as well as your housing payments etc. Fill in the information on the next page for each of these vehicles. #1 Make ______Year ______Model ______Current Mileage______Gas Mileage City______Highway______Engine Size ______Buy or Lease ______Price______Features ______#2 Make ______Year ______Model ______Current Mileage______Gas Mileage City______Highway______Engine Size ______Buy or Lease ______Price______Features ______#3 Make ______Year ______Model ______Current Mileage______Gas Mileage City______Highway______Engine Size ______Buy or Lease ______Price______Features ______

Task 2: Loan Calculations Choose 1 of the “realistic” vehicles and the car of your dreams.

Car of your Dreams

Financial APR Length of Monthly Total Total to be Institution Loan Payment Finance repaid Charge

Realistic Vehicle

Financial APR Length of Monthly Total Total to be Institution Loan Payment Finance repaid Charge Task 3: Gas and Maintenance Using mapquest.com or a similar internet mileage/directions program, figure out your approximate driving distances from work to home, school to home, home to favorite places to go, home to grocery store etc. for an entire week. (this means if you drive to work and home each day, 5 times per week, you need to multiply the 1 way trip by 10). Fill in the mileage below:

Starting place/ ending place Mileage per trip Total mileage in 1 week

1 week Total: ______x 4 Monthly Total: ______

Current Price of 1 gallon of gas:

Regular unleaded______Premium unleaded ______

Car of your dreams Realistic Vehicle A. Mileage per gallon

B. Monthly miles driven

C. Gallons needed per month (B divided by A) D. Cost of 1 gallon of gasoline (premium or regular?) E. Monthly Gasoline Cost (C multiplied by D) Unless you are leasing the car, Add $25.00 per month to each cost as “maintenance” costs.

Totals: (Dream) ______(Realistic) ______divide each by 4 to find your weekly cost: (Dream) ______(Realistic) ______Task 4: Insurance Using the car of your dreams and the “realistic” vehicle you have chosen, find the following insurance information using the internet.

Company 1______Company 2______Agent______Agent______Address______Address______Phone______Phone______

Dream Vehicle Amount of Coverage Premiums for Premiums for Company 1 Company 2

Bodily Injury liability

Property Damage

Personal injury protection

Uninsured motorist

Realistic Vehicle Amount of Coverage Premiums for Premiums for Company 1 Company 2

Bodily Injury liability

Property Damage Personal injury protection

Uninsured motorist

Task 5: Cost per Month

(all figures put in the table need to be per month!)

Car of your Dreams Realistic Vehicle Loan cost

Gas/Maintenance

Insurance

Which car is best suited to your budget? ______Which car would you buy? ______Why? ______What do you have to give up/what do you gain by buying this vehicle instead of the other one? ______