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SITUATIONYou are 25 years old and getting accustomed to being a college graduate, nicely situated into your dream career. It’s time to get rid of that rusted out gas guzzling junk car you’ve been driving since high school. Let’s go car shopping!Shop for cars at or at the manufacturer’s website (i.e. Ford)Calculators for loans can be found on my classroom webpage or at HIGH QUALITY PRACTICAL USED CAR (1-3 YEARS OLD)YEARMAKEMODELSuggested Retail Price (Dealer)ChoiceCredit LevelInterest RateDown Payment (10% of price)Loan amount (Price – Down Payment)Length of LoanMonthly PaymentTotal Price of Car(Full price + interest charged) or (Total of monthly payments + down-payment)1Excellent3%364860722Poor18%364860723Current RatesSearch for Used Car Interest RatesBest: ______36486072PRACTICAL NEW CARYEARMAKEMODELMSRP (Manufacturer’s Suggested Retail Price)ChoiceCredit LevelInterest RateDown Payment (10% of price)Loan amount (Price – Down Payment)Length of LoanMonthly PaymentTotal Price of Car(Full price + interest charged) or (Total of monthly payments + down-payment)1Excellent3%364860722Poor18%364860723Current RatesSearch for NEW Car Interest RatesBest: ______36486072NEW DREAM CARYEARMAKEMODELMSRP (Manufacturer’s Suggested Retail Price)ChoiceCredit LevelInterest RateDown Payment (10% of price)Loan amount (Price – Down Payment)Length of LoanMonthly PaymentTotal Price of Car(Full price + interest charged) or (Total of monthly payments + down-payment)1Excellent3%364860722Current RatesSearch for Used Car Interest RatesBest: ______36486072 ................
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