Buying My Car

Holdine Dumel
The New car I wanted LOAN

a. 4year, $12000 down,8% APR

2017 Corolla iM
Brand New Price is $18,750
b. $368 payment
Finances
I have $12,000 to put down
c. $12,453 loan amount
I can afford $242 payments
d. Will pay $40,654

Leasing from Toyota

e. I can only put $6340 down

f. I would need 16,600 miles per

year

g. 60 months yields lowest payment

LEASE TERMS
The car I decided to buy
2017 Corolla iM Limited
Financing
Used with 27,000 miles
$23,000 down
$40,000
5% APR
Almost identical to 2017
Borrowing $12,453
Certified Pre-Owned
5 years (60 Monthly Payments)

$254 payment

$14,040 paid at end of loan

5 years
Financing Option I Chose
5 years, 5% APR, $168per
month

I decided to go with the 5 year loan

because the $200 was significantly
lower than the 5 year loan. With a 5
year loan I would only have to pay
$80 more, but would only save a
total of $200 after the loan was up. I
think I could find more things to do
with an extra $78 per month than
$240 after 5 years.
Reflection
I choice the 2017 Corolla iM
because it is cheat and I can
afforded it and it's very
comfortable. And it's brand
new.