Part 1: What type of car will meet your needs?

Take into account all the things you

may need to use your car for?
Will you need to haul anything with your car?

No

Will you need to have more than 2 people in your car?

Yes

Will you need four wheel drive?

Yes

Will you need to drive lots of distance?

No

How much gas can you afford to buy each week?

$175

How much could you spend on repairs each month?

$250

Part 2: Create a list of at least 6 cars that meet your needs based on the above
requirements
Volvo V60

Das Auto New Lavida

Toyota 2015 Camry

Buick Excelle

The Mazda 6

Ford Focus Titanium Hatch

Part 3: Research the reliability of the cars on your list. You may want to consider
using Consumer Reports for this.
Car

Engine

Volvo V60

300 lb-ft
of torque
at 1400
rpm

Autom
atic/
Manual
Automa
tic

Fuel
19.2
gal.

Safety
standar
d

Extras
(Heated
Seats Etc.)
All-Wheel-Drive

Overall
Every detail
matters

Das Auto
New
Lavida

EA211
Multi
-point
injection
gasoline
engine
3.6L
Pentasta
r V6
fuel

Automa
tic

5L/100
km

standar
d

Head safety
airbags

Good cost
performanc
e

Automa
tic

6L/100
km

standar
d

Automatic
Static
Cornering
supplementary
lighting
function

Efficiency,
power,
innovation
and
available
all-wheel
drive

Buick
Excelle

1.5L DVVT
engine

Automa
tic

11.6
gal.

Standar
d

Natural speech
recognition
function

The
Mazda 6

2.0L
ECOTEC
engine

Automa
tic

8.2L/1
00km

Standar
d

Wings-like
daytime
lights

Ford
Focus
Titanium
Hatch

Efficient
2.0L TiVCT I-4
engine

Automa
tic

12.4
gal.

standar
d

Dual-Zone
Electronic
Automatic
Temperature
Control

Good
quality and
safety
Good
outlook and
suitable for
the youth
Fashionable
outlook and
high saefty

Chrysler
300

Part 4: Find at least 3 cars listed locally that meet your needs.
Make
Ford

Model
Fiesta

Year
2015

Price
$20,00
0

Features
Voicerecognitio
n
SYNC&Eco
boost
engine

Contact Info.
1-800-392-3673
1-800-232-5952

Buick

Excelle

2015

$30,700

1-800-4A-BUICK

Mazda

Mazda

2015

$22,000

2.0-LITER
TURBOCHAR
GED 4CYLINDER
ENGINE and
ALL-WHEEL
DRIVE
SKYACTIV-G
ENGINE and

400-666-8080

I-ELOOP
ENERGY
CAPTURE

Part 5: Look up the value of each of the three cars you found. Use kbb.com for this.
You must factor in Year, Make, Model, Features, Mileage, and Location to find the
price.
Car 1

$20,000
$22,000

Car 2

$30,700

Car 3

Part 6: Find at least three places where you could secure a loan for one car on your
list. You may want to consider banks and credit unions to find the best deal.
Institution 1:

PNC Bank

Institution 2:

Bank of American

Institution 3:

Michigan Loans and Refinancing

Part 7: Find, Print, and Complete a Car Loan Application (Do NOT include your
Social Security # Make one up)
Part 8: Determine what your loan will actually cost. You should come up with the
monthly payment and determine the amount of principle and interest over the life
of the loan.
Monthly payment ________$284_____
Interest ______3%_____
____8000_______

Principle

Part 9: What will it cost to put your car on the road? Identify taxes, registration, and
insurance costs.
Title Fee: _______$15+_6% tax________
Registration: ___________$33_______

Plates:
Insurance:

$126
$1073.52

Total: _____________$1247.52

____

Part 10: Complete the following chart

One Time Cost
Registration: $33

Monthly
Loan: 283

Weekly
Gas:100

Repairs
Find at least 3 cost
of repairs for our

Taxes:6%
Plates:$800
Other: additional tax

Insurance:
$1073.52

vehicle
brake pad
replacement
Wheel
replacement
Oil rubber tube
replacement

Part 11: Research and present the cost of buying a car directly from the dealership
BRAND NEW!! What is the benefit of buying a car brand new vs. used. Look in to
the price of that car for a lease option and present the cost of leasing vs. buying
brand new. What is the benefit of leasing? What are the drawbacks? Out of the 3
options, buying used, buying brand new, and leasing, when would each purchase be
required in someones life? What is the best option for you now? What is the best
option for you later on in life? Why?

The price of a brand new Ford Fiesta 2015 from the dealership is $20,000, and the price of the used one
of that car is $14,184. The benefit of buying a brand new car over the used car is that I can be sure that the
car has no problems and the quality of that car conforms to its price. And the feeling of owning that car is
better, for I its a real car that belongs to me. By comparison, the last owner may leave a lot of problems
on that car. I may need to spend more money on repair. If I want to lease that car, the price is $284/month.
The benefit of leasing that car is the price is apparently lower if I want to use it shortly, and I dont need
to be responsible for that. I dont need to buy all kinds of insurance. But one of the drawbacks is I dont
know the quality of that car, and if it has some problems when I use it, it will cause a lot of troubles to me.
These three options are suitable for different kinds of people under different conditions. People who have
enough money to buy the car and want to use it for a long time had better buy a brand new car. People
dont have plenty of money, such as the youth that just start working, but want a car and use it every day
can buy a used car, for it is much cheaper. And leasing a car is suitable for people who just want to use the
car for a short time, like the people who travel around the world or the people who like to work in
different places. The best option for me now is leasing a used car, for I dont have much money on it, and
I dont really need it every day. I can afford the leasing price and I can lease it whenever I want. In the

future, Id like to have my own car. In another word, I will buy a brand new car. I will save enough
money for that, and I think I do need a car to go to work in the future. So buying my own car is a better
choice for me.