Buying a suitable vehicle

the steps and parameters to be taken

Parameters

1) Find two workable car options

2) Do not exceed $9,000 in your purchase

3) The car must be in good condition, capable of running for another 5 years

4) Car must have good mileage and a decent safety record

5) Keep track of all work/sites used

6) Stay realistic!

Step #1: find 4-6 suitable options

Research

In pertinance to longevity, safety, reliability and gas mileage, this is the ranked order of "smartest" cars.

1) 2008 Honda*

2) 2006 Ford*

3) 2008 Chevrolet

4) 2005 Ford Focus

5) 2006 Chevrolet

*this includes all of the factors, separately*


*insinuates the two best cars

Car #1; calculated interest rate

  • at rate #1; 8.99%/month for 36 months....$764.15/mo....$27,509.4
  • at rate #2; 2.59%/month for 60 months.....$220.15/mo....$13,209
  • at rate #3; 1.99%/month for 36 months....$169.15/mo....$6,089.4
  • at rate #4; 2.39%/month for 36 months....$203.15/mo....$7,313.4


Car #2; calculated interest rate

  • at rate #1; 8.99%/month for 36 months....$718.75/mo....$25,875.02
  • at rate #2; 2.59%/month for 60 months....$207.07/mo....$12,424
  • at rate #3; 1.99%/month for 36 months....$159.10/mo....$5727.61
  • at rate #4; 2.39%/month for 36 months....$191.08....$6,878.89


FINAL SELECTION

Because I like the honda better, and it proved above to be the "smartest" car, I choose it. I choose the Honda at the second loan price, which would get me the car for around $13,000 for 5 years, which is an incredible deal.