Economic Choices

Name:______Date:______Period:______Economic Choices Assignment 1. Conduct research on new and used cars on the internet. Autotrader.com, cars.com, and ebaymotors.com are recommended sites. Pick out one: a new car, used car, sports car, economical car, or a dream car (must be a 2006 to 2014 car). (Do not spend a lot of time here). Do not spend time looking on craigslist.com (do not use it)!!

 Print out a 1 page ad of the car that meets your need from the website you used

2. Create a chart that illustrates what it would take to purchase und upkeep the vehicle. You must include all of the following information. a. Monthly payment based on 10% down and 60 month payment plan including an interest rate of 4.25%. (http://www.onlineloancalculator.org/) b. Insurance costs for the car – look on line for a quote or call your family’s insurance agent. Or Use school address: 379 12th St. Fortuna and the following email: [email protected] . Do not give out personal information if you do not want a call from the insurance agent. USE: https://www.thegeneral.com/ c. Fee and Registration costs for the car. (https://www.dmv.ca.gov/FeeCalculatorWeb/newVehicleForm.do ) d. Estimated yearly fuel costs for car. (mileage driven per week multiplied by 52 divided by mpg times the cost of gas per gallon) http://www.californiagasprices.com/index.aspx?area=Fortuna http://www.odot.state.or.us/ffp/cs/ftg/fuelcost1.htm e. Estimated upkeep on car. (do not include in graph – complete and print) = Use Edmonds: True Cost to Own: http://www.edmunds.com/tco.html and find out the true cost to own your car, print and attach copy. Chart will only include: cost of maintenance and repairs.

3. Include summary of your and briefly explain why you picked the particular vehicle. Requirements

□ Cover Page, Chart, Typed and in sentence form (5)

□ Section 1 & 2 – 1 page print out of Car to be purchased and Printed copy of Edmonds True Cost to own (see example- next page) (5)

□ Section 3 - Table including A-E (10)

□ Section 4 - cost analysis summary paragraph form and explanation of vehicle choice summary and overall cost of purchasing and owning a vehicle (include the true cost to own). (1 page= 3 paragraphs). (10)

Date Assigned: 3/3/15 Due Date: 3/10/15 (Beginning of Class) Days in the Computer lab: 2 Point Value: 30 Name:______Date:______Period:______

True Cost to own

Summary

True Cost To Own* $40,196

Total Cash Price $22,928 * Based on a 5-year estimate with 15,000 miles driven per year.

5 Year Details

Year 1 Year 2 Year 3 Year 4 Year 5 5 Yr Total

Depreciation $3,753 $1,761 $1,548 $1,373 $1,233 $9,668

Taxes & Fees $1,914 $142 $131 $121 $112 $2,420

Financing $713 $566 $413 $256 $91 $2,039

Fuel $1,747 $1,800 $1,854 $1,909 $1,966 $9,276

Insurance $2,414 $2,498 $2,586 $2,676 $2,770 $12,944

Maintenance $139 $671 $366 $1,209 $691 $3,076

Repairs $0 $0 $111 $269 $393 $773

Tax Credit $0 $0

True Cost to $10,680 $7,438 $7,009 $7,813 $7,256 $40,196 Own ®

a. Monthly payment ______b. Insurance costs ______monthly c. Fee and Registration costs yearly $______d. Estimated yearly fuel est. 15000 a year ______. (mileage driven per week multiplied by 52 divided by mpg times the cost of gas per gallon) e. Estimated upkeep on car. ______yearly

CAR: Name:______Date:______Period:______

Make: ______Model:______Year: ______

Purchase Price:______

Monthly Yearly Monthly Payment Monthly Insurance Cost DMV Fee and Registration Cost Estimated Yearly Gas Cost Estimated Yearly Maintenance Costs Estimated Yearly Repair Costs

Total cost