2008 Jeep Patriot Sport 4D

$11,998

Income Information

Yearly Income= 30,000
Housing 35% = 1050/Year or 87.50/Month
Taxes 25%= 750/Year or 62.50/Month
Transportation 15%:
Payment 10%= 3000/Year or 250/Month
Other 5%= 1500/Year or 125/Month
Food 15%= 4500?Year or 375/Month
Savings 5%= 1500/Year or 125/Month
Medical 3%= 900/Year or 75/Month
Miscellaneous 2%= 600/Year or 50/Month

Total Cost:
3 Year Loan: $8,499.67
4 Year Loan: $11,127.26
5 Year Loan: $13,658.28

Minimum Car Price Per Month:
3 Year Loan: $352.88/Month
4 Year Loan: $269.56/Month
5 Year Loan: $219.62/Month

I will choose the 5 year loan. This is because the car is $1660.27 under the max I could spend. While this is true I can only afford if with the 5 year loan. I chose this because it will be a good reasonable investment.

I will spend $11,998.52 total on the car.

Bonus Question:
R=$375.54/Month With Interest over 5 years
R= $408.60/Month Without Interest over 5 years
The 5 year plan with interest is the better deal. This is because it is less per month than without interest.

Car Citation Below