Professional Documents
Culture Documents
Car Project
Car Project
Car Project
Name:
Breanna Koliba
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?
Possibly
Will you need to have more than 2 people in your car?
Yes
Part 3: Research the reliability of the cars on your list. You may want to consider
using Consumer Reports for this.
Car
Engine
Automa
tic/
Manual
Fuel
Safety
Extras
(Heated
Seats
Etc.)
Overall
Dodge
Stratus
2005
Sedan 4D
4-Cyl,
2.4
Liter
Automati
c
City
20/Hw
y
27/Co
mb 22
MPG
- Airbags
-Child safety
locks
-AM/FM
Stereo
-CD Drive
-Power
windows
-Cruise
control
-Good MPG
- Chance of
getting
used
Stratus
from
brother
Honda
Accord
2007
VP Sedan
4D
4-Cyl,
Vtec,
2.4
Liter
Automati
c
City
21/Hw
y
31/Co
mb 25
MPG
- Airbags
-Child Safety
Locks
-AM/FM
Stereo
-CD Drive
-FWD
-AC
-Power
windows
-Cruise
control
-Better MPG
-Very
similar to
Stratus but
updated
one year
Toyota
Camry
2008
Sedan 4D
4-Cyl,
2.4
Liter
Automati
c, 5-Spd
w/Overdr
ive
City
21/Hw
y
31/Co
mb 25
MPG
- Airbags
-Child Locks
-Engine
Immobilizer
-Traction
controller
-Good MPG
Aestheticall
y pleasing
-Not too old
-Lots of
safety
precautions
Ford
Taurus
2009
SE Sedan
4D
V6, 3.5
Liter
Automati
c, 6-Spd
w/Overdr
ive
City
18/Hw
y
28/Co
mb 21
MPG
- Airbags
-Child Locks
Traction
Controller
Nissan
Altima
2009 2.5
Sedan 4D
4-Cyl,
2.5
Liter
Automati
c, CVT
City
23/Hw
y
31/Co
mb 26
MPG
-Airbags
-Child Locks
Engine
Immobilizer
-FWD
-AC
-Cruise
Control
-Power
Windows
-AM/FM
radio
-MP3/CD
Drive
-AM/FM
Stereo
-CD Drive
-Traction
controller
-Dual
Airbags
-AC
-Power
Windows
-Power
Door Locks
-Cruise
Control
-Dual
Airbags
-Domestic
Good
-Not as
good MPG
-Good
airbag
coverage
-MPG is the
best on the
list
-Good
airbags
Aestheticall
y pleasing
-Site
2
-FWD
Saturn Ion
2006 3
Sedan 4D
4-Cyl,
2.2
Liter
Automati
c
City
21/Hw
y
29/Co
mb 24
MPG
-Airbags
-Child Locks
-Optional
Traction
Control
-AM/FM
Stereo
-CD Drive
-OnStar
-Dual
Airbags
-FWD
-AC
-Power
Windows
-Cruise
Control
doesnt list
radio or CD
so thats a
negative
Aestheticall
y pleasing
-OnStar
convenienc
e
-Domestic
Made
-Good MPG
Part 4: Find at least 3 cars listed locally that meet your needs.
Make
Chrysler
Model
200 LX
Year
2013
Price
$6,500
Ford
Fusion
SE
2009
$6,995
Chevrolet
Malibu
LS
2006
$6,650
Features
-Bluetooth
Hands-Free
-CD Player
-Cruise
Control
-Keyless
Entry
-Power
Windows
-Nonsmoker
-CD/Radio
-Bluetooth
-Anti-Lock
Brakes
-Cruise
control
-Keyless
Entry
-Sunroof
-Traction
Control
-CD/Radio
-Speaker
Sysem(4)
Contact Info.
313-658-6002
Link/Source
Chrysler 200 LX
844-538-7484
Ford Fusion SE
877-693-1096
Chevrolet Malibu
-AC
-Panic
Alarm
-Power
Windows
-Cruise
Control
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 $10,947
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.
Rates for 09 Ford Fusion 38,000 miles for $6995
Institution 1: Light stream APR: 3.19% for 24 month plan
Institution 2: PenFed Credit Union APR: 1.99% for 24 month plan (requires
membership)
Institution 3: Fifth and Third APR: 5.069% for 48 month plan
Part 7: Find, Print, and Complete a Car Loan Application
*** Do NOT include your Social Security # ***MAKE ONE UP!!!!
I turned this portion into Drop Box- Didnt want to put that much personal
info on the internet (Address, phone # ,etc)
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 $300.65
Interest $220.69Principle$6,995
Part 9: What will it cost to put your car on the road? Identify taxes, registration, and
insurance costs.
Title Fee: $15 According to MI.gov
Plates:
Registration: $15 Insurance: $800/6 month- Roughly $134 per month (According
to my brothers insurance policy with State Farm)
Total: ____________$202_
____
Weekly
Gas:12000m/52we
eks
230m/24.5mpg=
9.419g*$1.6
Repairs
Find at least 3 cost
of repairs for our
vehicle
$15.07
Taxes:6995*.06=
$419.7
Plates:15
Insurance:$134
Down Payment:
$1,399 (20%)
Windshield Chip:
$39.95
Worn Brake Pads
$75
Brake Cylinder
Replacement:
$200
Other: N/A
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?
Car: 2016 Nissan Altima Actual Cost: $22,500 Lease Price: 199$
I think the benefit of leasing lies in the fact that you pay less to drive a better car.
Repair costs are lower because warranties usually handle it. Drawback is that you
dont actually own the car. It isnt yours and there are mileage limits and there will
probably be serious repercussions if it ends up totaled.
New cars would be a better purchase later in life when you are secure with good
employment and can take on a long term payment like that. Its not something to
immediately pursue when college money is so important.
Leasing could be an option anytime. But, it means there will always be a payment
and you have to be very conscious of how many miles youre putting on the car. In a
nutshell it means less road trips. But it could work for someone who doesnt feel
comfortable taking out an auto loan. My grandmother has always leased because
she gets bored driving the same car for more than a few years. But it works for her
because she only drives around our city and close to home. A person who has to
drive out an hour everyday for work or other obligations should reconsider their
options.
Used cars seem like a really good option. They can be a little clunky and have some
miles on them, but the cost is cheaper than anything youll see on the new line up.
Sometimes you can even pay it in one lump sum. My older brother paid for his car in
one go and now he only has to worry about insurance. Its really convenient in that
way because it will last until he can finance a better car. Besides that, I think it can
push drivers to learn more about the car itself with repairs and learning the ropes.
Its important to know whats going on under the hood and be as educated as
possible.
Personally, Im going to look into getting a used car during or after my senior year in
high school. Im not fortunate enough to have a parent/family member buy one for
me and have to finance it myself. My lack of employment is worrying but Im looking
into getting a job for senior year and possibly this summer (it depends on how it
schedules with drivers training). Cars, college and life are expensive so I need to
start saving early. Leasing is an option but I can guarantee Im going to drive up to
Cedar Point with my friends on more than one occasionand I dont know how far I
might have to drive for school or work. My dad already offered to help me look
around some of the dealership lots and has been teaching me some tricks about
finding a good used car.
Later in life Ill definitely look into buying a new car, but right now Im content with
driving an older car. I expected I would be from the get-go. There are a few older
cars in my family that could get handed down to me too, so Ill have plenty of
options to choose from.