Task:
Working in groups of two, your task is to research the Internet
to find information on buying and insuring a car. You will be
researching two new cars and two used cars. Right now you have
$1,500 in your savings account that you can use for a down payment
on your car. You will be taking out three-year loan for the rest
of the money.
After you have gathered the information on each car, your task
is to:
1- Organize your information into an
Excel spreadsheet
2- Write a one-page paper in Microsoft
Word based on which care is the best buy for you given your
current situation.
3- Create a PowerPoint presentation to
explain your information and decision to the class
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Process:
1- Gathering Information
Research the following information on four
different cars:
(a) The description of the car
- Make
- Model
- Year
- Engine Size
- Miles on Engine
- Gas mileage (Miles per Gallon)
- Type of Transmission
- Cruise Control
- Interior-power locks, power windows,
air-conditioning, CD player
- 4-Wheel Drive
- Air Bags
(b) Cost of Car
- MSRP
- Sales Tax (Assume sales tax is 6 percent. Sales
Tax = 0.06 * MSRP)
- Total Cost of Car (MSRP + Sales Tax)
(c) Financing the car with a 36
month loan
- Amount to Finance (Total Cost of Car-Down
Payment)
- Monthly Cost ((Interest Rate * Total Cost of Car
Before Financing + Total Cost of Car Before Financing)
/ 36)
- Yearly Cost (Monthly Cost * 12)
(d) Insurance on the car
- Monthly Cost (Yearly / 12)
- Yearly Cost (Monthly Cost * 12)
(e) Cost of fuel of car
- Total Monthly Cost (Yearly / 12)
- Total Yearly Cost (Monthly Cost * 12)
(f) Total Cost of Car After
Financing, Insurance, and Fuel (Down Payment + Financing
Month Cost + Insurance Month Cost + Feul Month Cost)
- Total Monthly Cost (Financing Month Cost +
Insurance Monthly Cost + Fuel Month Cost)
- Total Yearly Cost (Monthly Cost * 12)
2- Organize Information
Organize information into an Excel Spreadsheet -
See Learning Advice
3- Analyzing Information
(a) Analyze the information
and decide which car you feel would be the best for you to
buy. These questions may help you make the decision:
- Which car are you going to buy?
- How much does the insurance cost?
- What are the monthly costs?
- Can you afford to pay the monthly costs?
- What are the pros about this car?
- What are the cons about this car?
(b) Write a one-page paper in
essay format on your analysis.
4- Presenting Information
(a) Create a PowerPoint
presentation explaining your information that was gathered
and the your analysis
(b) Present the PowerPoint to the
class in a 5-10 minute presentation
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Resources:
Descriptions and Cost of Cars
MSN Cars
Yahoo Cars
Edmunds Cars
Fuel Costs
Fuel
Economy
Insurance on Cars
Yahoo Insurance
Rates (Click on Car Insurance, then click on Get Your Free
Quick Quote)
Financing Cars
Credit Union
(On the left-hand side of the page, click on Financial
Calculators, then click auto)
E-Loan (Click on auto
loan, then calculate payment)
Additional Sources (maybe helpful)
Auto Trader
Kelly Blue
Book
Auto Bytel
Used Car Buying
Tips
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Learning Advice:
Once you have research the information, organize it into an
Excel spreadsheet. Use formulas in the spreadsheet to make the
calculations that are required.
This is an example of an Excel
spreadsheet. You can use this example to organize your
spreadsheet, or you can create your own spreadsheet.
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Conclusion:
Now that you have researched the Internet and have found
information on four different cars, you have learned the
importance of the process to buying a car. It is a decision that
cannot be taken lightly. You have also learned that there are more
costs associated to owning a car then just the price you pay the
dealer. Because of everything you have learned, you are now
equipped to make your dreams come true. You are equipped to make
one of your first big purchases and buy the car of your
dreams.
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Introduction
| Task | Process
| Resources | Learning
Advice | Conclusion
Buying the Car of Your Dreams 