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3130550210820 Buying A CarNow that Jennifer is working full time, she would really like to buy a car. She is unsure if she would like a new or used car. She does not want to spend more than $20 000 on a car. Ideally, she would really like to buy a SUV or a pickup truck but she knows that if she buys new those types of cars are out of her price range.She has $1 000 saved for her down payment and her parents are giving her $500 as a graduation giftComplete the charts below and advise Jennifer on what she should do.Part 1: New CarYou will compare financing versus leasing the NEW vehicle. Many of the answers to these questions can be found by using the websites of the company who makes the car.Go to the Toyota website: toyota.ca Choose a NEW car that you would like to purchase. It should be either a 2016 or a 2017 model vehicle.Make / Model of VehicleQuestionsFinance / CashLeaseWhat is the MRSP?What is the cost of theoptions?Freight & DeliveryLess Down Payment (ortrade-in)HST (15%)Cash PriceQuestionsFinance / CashLeaseTotal for finance / lease-71120-165100-71120365760-71120722630-711202131060-71120283972039820852839720-711203546475-711204253865-7112047853603985260-168275-711205492750-68580-1682751958340-1682756012180-168275# of months & what %Monthly paymentResidual Value1960880-161925Total Cost of the vehicle(# of years * 12 * monthlypayment + Down payment)What happens to the priceof the vehicle if the term isdecreased to 48 months?How many km can you1960880-161925drive annually?What is the size of the gastank?What is the fuelconsumption (L/100 km)?CityHighway-7112015875- 2 -Part 2: Used CarGo to either autotrader.ca OR novascotia.kijiji.ca to find a USED car that is similar to what you chose for new car. This car should be a 2012 or older.A calculator for Finance and Lease payments can be found using these steps:Go to Click on “Finance”.Under the heading “More Calculators”, click on “Auto Loan Calculator”. (for the finance calculator)Now find a used car that is similar to the new one and fill in the information below.Make / Model of Vehicle-71120-165100-71120365760-71120547370-711201254760-711201786255-711202319655-711202851785-711203208020-711203740150-711204272280-711204979035-68580-1682751958340-1682756012180-168275QuestionsWhat is the cost of thevehicle?How old is the vehicle?What options does it have?Subtotal of vehicleLess Down PaymentHST (13%)Total for financeWhat would be the monthlypayment if you take a 4year car loan?What would be the totalprice of the car?(# of years * 12* monthlypayment + Down payment)-71120192405- 3 -Part 3: RecommendationAdvise Jennifer on what she should do (buy new, lease, buy used) Why?? (Use full sentences and give at least 2 reasons)698522606069855187956985812800-12701106805CategoryI/RLevel 1Level 2Level 3Level 4COMMUNICATIONCommunicates withCommunicates withCommunicates withCommunicates with alimited clarity and limitedsome clarity and someconsiderable clarity andhigh degree of clarityjustification of reasoningjustification of reasoningconsiderable justificationand full justification ofof reasoningreasoningTIPSMakes simpleMakes moderatelyMakes mathematicalMakes complexmathematical argumentscomplex mathematicalarguments ofmathematicalsupportingarguments supportingconsiderable complexityarguments, that supportrecommendationsrecommendationsthat supportrecommendationsrecommendations- 4 - ................
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