Name:

Kennedy vigliotti

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?

Will you need to drive lots of distance?

yes
yes

How much gas can you afford to buy each week?

How much could you spend on repairs each month?

1 full tank
0$

Part 2: Create a list of at least 6 cars that meet your needs based on the above
requirements
2009 Volkswagen Jetta TDI
2016 ford fiesta
2008 mini cooper

2015 ford mustang gt

2011 535 bmw

2015 audi rs7

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

Car

Engine

2009 Jetta

2.0L 4cylinde
r

2008 mini
cooper

1.5 L 3cylinde
r
1.0 L 3cylinde

2016 ford
fiesta

Automa
tic/
Manual

Fuel

Safety

manual

30-41

Rated good

manual

30

4 star rating

automati
c

31-43

advanced
technology

Extras
(Heate
d Seats
Etc.)
Daytime
running
lights
Heated
seats
Optional
converti
ble
fuelefficient

Overall
Front wheel
drive and no
Bluetooth

Good car on
gas but not
price
1/5
1

options

2015 ford
mustang

2.3 L 4cylinde
r

2015 Audi
RS7

4.0 L
V8

manual

17-28

15-25

rear
suspension
provides better
handling & ride
dynamics
4 wheel ABS

EcoBoos
t engine
Wide
range of
engines

AWD
premium
leather
Multi
heated
driving
seat

4.5/5
But not
spacious
enough for
me
5/5

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

Model

ford
Chrysler
BMW

fiesta
200
sedan
335i

Year
2013

Price
8,799

2012

11,000

2007

15,000

Features
200$ gas
card
4 wheel
ABS
MP3
player

Contact Info.

2525 Owen Rd
Fenton, MI 48430
23651 Hall Rd
Macomb, MI 48042
24730 Haggerty
Road
Farmington Hills, MI
48335

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 14,416
38,440

Car 2

22,220

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:

Bank of America

Institution 2:

5/3 bank

Institution 3:

wells Fargo

Part 7: Find, Print, and Complete a Car Loan Application

*** Do NOT include your Social Security # ***MAKE ONE UP!!!!
2

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 $___401.30________
Interest $______3.61_
Principle$___3.917_______

___

Part 9: What will it cost to put your car on the road? Identify taxes, registration, and
insurance costs.
Title Fee: ___________15$
Registration: ___________8$____

Plates:
Insurance:

$35.00
213

Total: ______271_______

____

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? Every 3
months
B. For the do-it-yourselfers, you need to determine the number of quarts
of oil you will need every year, the number of oil filters you will need,
we will assume you have the wrenches to complete the job, but you
will need to buy some ramps so you can get to our oil plug.
Number or quarts of oil:
8
Total cost of oil:
40
Total cost of all filters:
28
Total yearly cost for your oil changes:
76$
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)?
25mpg
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)
753.60

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

Part 11: Complete the following chart

One Time Cost
Monthly
Registration: 106
Loan: 10,000

Taxes:246
Plates:100-150
Down Payment:1,999
Other: 0

Insurance:210
25
282
0

Weekly
Gas:$20-25

0
0
0
0

192.20

Repairs
Find at least 3 cost
of repairs for our
vehicle
Tires: 200
Oil changes- 20$
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. The benefit
of buying a new car vs. a used car is that you get the car new so there is going to
be no problems with the car no history of bad oil for example or whatever. Look in
to the price of that car for a lease option and present the cost of leasing vs. buying
brand new. Leasing is a good option because after your lease is up then you can
(usually) buy the car off them if you like it so you have a good idea if you will
actually like the car or not also which is cool. What are the drawbacks of leasing?
There are a few like your car isnt actually yours so you cant have the car forever;
there is just a specific amount of time the car that you have it. Out of the 3 options,
buying used, buying brand new, and leasing, when would each purchase be
required in someones life? Buying used I would say would be used for your first car
that you are getting and leasing a car would be for when you want to maybe pick
which car you want without actually buying it. Maybe your second or third car and
buying a car is for sure a long term option people usually do this when they have a
steady job and they can pay off what needs to be done with this car and this is for
someone who wants to call a car their own. What is the best option for you now?
The best option for me right now would be to buy a used car just because it is so
cheap compared to the other cars and I dont know about me paying all my car
payments on time would be the right thing for me at the moment. What is the best
option for you later on in life? Why? The best option later in life for me would be to
lease a car probably because I like change and after 2 years or however long the
lease is then I can switch up the cars and try a different one and once I find that car
I really like then I will decide to buy it.