2008 Honda Civic EX

Cost: $11,998

Salary

$30,000

Salary and Yearly/Monthly Spending

Housing: $10,500/ $875

Taxes: $7,500/ $625

Food: $4,500/ $375

Savings: $1,500/ $125

Medical: $900/ $75

Miscellaneous: $600/ $50

Transportation-

Payment: $3,000/ $250

Other: $1,500/ $125

Affordable Car Payments

Yearly: $3,000

Monthly: $250

Unaffordable Loan Options

3 Year: $8,499.60

Monthly Payment: $352.89

4 Year: $11,127.25

Monthly payment: $269.56

Loan option

5 Year: $13,658.27

Monthly payment: $219.61

Bonus Question

Total Cost with rebate and 3.75% interest for 5 years: $22,531.20

Total Cost with 0% interest for 5 years: $24,516.00


Better deal: $4000 rebate at 3.75% interest

By Olivia Curry