The Blue Bus

PAYING PLAN

Project Description- I was given the task to buy a car and finance the car over 3, 4 and 5 years with the budget of assign to me of 30,000.

I selected a 1998 Ford Econoline off of the site Auto tracker


For this project we consider that all the money that we earned would not go toward our car but many other expense that occur in life.

We imagined that...

25% of our income would go toward taxes

Housing would take 35%

Taxes would take 25%

Transportation would take 15% (10% to payment and 5% to other)

Food would take 15%

Savings would take 5%

Medical would take 3%

Miscellaneous would take 2%

After these calculation I concluded that I would have

4500 dollars left divided over 12 month would calculate to

375 dollars


Monthly Budget 375

3 year plan 12749

4 year plan 10802

5 year plan 9962


Car Ford E - Econoline 1998

cost 995

3 year plan 29.37

4 year plan 21.56

5 year plan 14.23


This would be an easy payment for me to make making it possible for me to buy some new albums (and besides the expense would pay itself back by the capacity of the car I would just need to buy car seats)