Hot Wheelz

By Josh Rock

My Stuffs

Salary = $120,000

Yearly / Monthly

Housing = $42000/$3500

Taxes = $30000 /$2500

Food = $18000/$1500

Saving = $6000/$500

Medical = $3600/$300

Miscellaneous = $2400/$200

Car

Payment = $12000/$1000

Other = $6000/$500



3 years/ 4 years/ 5 years

Maximum Car loan = $33998.68/$44509.02/$54633.11


Car I choose was 2013 Chevrolet Camaro LT 2D Coupe

Price of Car = $26,324


3 years monthly payment = $774.27

Final price after 3 years = $27873.72


4 years monthly payment = $591.43

Final price after 4 years = $28388.64


5 years monthly payment = $481.83

Final price after 5 years = $28909.8


I would choose the 3 year because its cheaper and they are all within my budget.





http://www.carmax.com/enus/view-car/default.html?id=11661866&AVi=4&No=0&Rp=R&D=50&zip=66204&N=4294963202+4294963103+4294963167&Q=cbfa65a3-3a45-47f3-a7de-8f2913b93b6b&Ep=search:results:results page




Bonus Question:

0% 5 year plan = $408.6

$4000 rebate with 3.75% = $375.54

there is a $33.06 difference


The $4000 rebate with the 3.75% is better

Big image