Transportation

Transportation For this project, you must find a car to buy. You may not use public transportation, purchase a motorcycle or rely on a bicycle. The car you purchase must be at least $7,000 ad a maximum of 7 years old. That means you cannot find a car any older than a 2002. You must base your car on your family structure. It must be large enough for your entire family to ride it. Use the Internet to find the price of the car you desire. Once you have found a car, provide proper proof or documentation of the cost and model of the car you desire through a screen shot (apple+shift+4) on your page of this wiki.

You will pay about 20% down and finance the rest. Use the following link as an auto loan calculator to determine your monthly payments. Take a screen shot of the calculator with the monthly payment and upload it to your page. Use a tax rate of 4%, an interest rate of 7.5%, and a 60 month term. [|Auto Loan Calculator]

Your page must have a screen shot of the car information, your down payment, the amount you are financing, the monthly payment, and a screen shot of the auto loan calculator.

Example: I found a 2005 Honda Accord for $16,000. I will put down 20% as a down payment and finance the rest. 16,000X.20=$4,000 (down payment) 16,000-4,000=$12,000 (finance amount) $253.27 = monthly payment