Name:

Raven Clark

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?

Will you need four-wheel drive?
Will you need to drive lots of distance?

Yes
Yes
Yes

How much gas can you afford to buy each week?

Once/Twice a week

How much could you spend on repairs each month?

possible

As least as

Part 2: Create a list of at least 6 cars that meet your needs based on the above
requirements
Jeep Patriot
Jeep Compass
Chevy Cruz
Chevy Malibu
Part 3: Research the reliability of the cars on your list. You may want to consider
using Consumer Reports for this.
Car
Jeep
Patriot

Engine
2.0L
World
Engine
(4x2)

Automa
tic/
Manual
Automati
c

Fuel
20/26
MPG

Safety
100%
The
Sentry
Key,
Electroni
c
Stability
Control,
Patriot
comes
equippe

Extras
(Heated
Seats Etc.)
Air
Conditioning,
Cloth heated
seats, power
windows, 17in
aluminum
wheels

Overall
5/6

d with
six
airbags
Chevy
Cruz

1.4L
Turbo
Engine

Automati
c

40MPG

10
airbags

Chevy
Malibu

1.7L
Engine

Automati
c

37
MPG

11
SAFTY
FEATUR
ES

Jeep
Compass

2.0L
Engine

Automati
c

26
MPG

Compass
helps
protect
you even
in the

Entertaining
technology is
all around you.
This compact
car has plenty
of ways to stay
entertained
including
standard
Chevrolet My
Link with a 7inch diagonal
color touchscreen,
available
advanced
phone
integration and
available builtin 4G LTE WiFi so youre
always
connected.
Malibu is the
first vehicle in
the industry to
offer a built-in
system to help
encourage safe
driving habits
and let parents
know how their
teenager drove
the vehicle.
Crafted to
stand out.

6/6

6/6

6/6

Compass has
more than 30
available safety

event of

and security. The

side

available

collisions

ParkView Rear

with

Back Up Camera.

engineere
d crush
zones,
door
guard
beams,
an ultrahighstrength
steel
crossbea
m and six
airbags+in
cluding
suppleme
ntal front
seatmounted
side

Kia Rondo

2.4L 4
cylinde
r

Automati
c

20
MPG

airbags.
Head
restraints
& seats

Affordable, flexible
and offering both
four- and sixcylinder power,
plus room for five
or seven
passengers.

5/6

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

Model
Compa
ss

Year
2008

Price
8200

Features

HEATED
SEATS
LEATHE
R
CRUISE

Contact Info.

3134661111

Jeep

Patriot

2007

7499

Cadillac`

Ats

2013

15900

CONTRO
L
TRACTIO
N
CONTRO
L
STABILIT
Y
CONTRO
L
ABS(4WHEEL)
SUNRO
OF
POWER
WINDO
WS/LOC
K
extra
248 - 5 o 5 - 1 o
clean, in 5 7.
great
conditio
n, has
heated
leather
seats,
sunroof,
alloy
wheels,
fog
lights,
good
tires &
good
brakes
REMOT 586-224-2885
4

E
STARTE
R
HEATED
SEATS,
2.0
TURBO,
ALL
WHEEL
DRIVE,
SILVER
WITH
BLACK
LEATHE
R.
CLEAN
CARFAX
SHOWIN
G NO
ACCIDE
NTS.
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 $5,495
$17,837

Car 2

$5,545

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: Huntington Bank
Institution 2: Michigan First Credit Union
Institution 3: Bank of America

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.
http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx
http://www.cars.com/go/advice/financing/calc/loanCalc.jsp?mode=full
Monthly payment $332.01
___________
Principle$__________

Interest $3.00_______

___

Part 9: What will it cost to put your car on the road? Identify taxes, registration, and
insurance costs. (PART 11) (HYPERLINK DIDNT WORK)
Title Fee: __________________
Registration: __________________

Plates:
Insurance:
Total: _____________ ____

Part 10: General Up-keep and Maintenance

You also need to be concerned with the general upkeep of your car along with how
much it is going to cost to keep gas in your car. This include regular oil changes
after 3000 miles, two new tires every year for Michigan winter weather adventures
and other car problems that could possibly occur. Below is a list for you to fill out
that will help you calculate the other yearly costs of operating your car.
1. The average number of miles driven per year by Americans is 12000.
A. How many times will you have to change your oil then? 4
B. If you will change it yourself, go to letter (d); if you plan on having
your oil changed by professionals go to letter (c)
C. What is the average cost of an oil change? $ 20-30
a.

Now multiply that number by how many time a year you will
need your oil changed.
Total yearly charge:
$ 80

2) Since the average number of miles driven is 12000, we are going to determine
how much money you will spend in fuel for one year.
a) Does your car run on gasoline or diesel? GAS
b) What is the average fuel mileage of your car (from page 1)? 20-25 MPG
c) What is the average cost of 1 gallon of fuel?
1.57
d) Find the total cost of your fuel for one year:
(Number of miles driven / avg. fuel mileage)(Avg. cost of 1 gal. of fuel)
6

$753.60
3) What would the cost of 2 new tires for your car be?

$192.20

Site where you found this: Tire rack

Part 11: Complete the following chart
One Time Cost
Monthly
Registration: $106
Loan: $10,000

Weekly
Gas: $20-25

Taxes:$426
Plates: $100-150

Insurance:$210
$25

0
0

Down Payment: $
1,999
Other: 0

$282

Repairs
Find at least 3 cost
of repairs for our
vehicle
Tires: 200
Oil Change $20
per
Fluid $15-20

Gas: 20

Part 12: 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?
Buying a new car could be better in your favor that you could have less things to fix,
it will be in perfect mint condition and it is YOUR own car. I wouldnt suggest this for
new drivers but maybe for your own first car purchase you could do this if you do
plan on having this car awhile. For a new jeep compass you can be paying from
$19,595, where if you were to get the used 2008 one it would be around $8-9000.Out of the 3 options, I
think you need to see where you are in life. You shouldnt be buying a brand new 2016 car if youre a new
driving I believe, as for myself at this point I would just go with the used car, I think that would be the
better option for myself.