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Test Drive. By: Robert Harold Jr. Who am I?. Savings Account: $5000 Monthly Auto Budget: $450. I am Robert Harold Jr. Status: Single Sex: Male Age: 54 years old Job: Contractor Residence: Shoreline, Washington

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Test drive

Test Drive

By: Robert Harold Jr.


Who am i
Who am I?

Savings Account: $5000

Monthly Auto Budget: $450

I am Robert Harold Jr.

Status: Single

Sex: Male

Age: 54 years old

Job: Contractor

Residence: Shoreline, Washington

Needs: Big enough to tow tools around, Has inexpensive monthly auto costs, around 20-30 MPG

Wants: GPS, Radio, Bright red color

Robert Harold Jr.


Potential car 1
Potential Car #1

2008 Dodge Ram 1500 SLT

Price - $12,390

  • Has a radio

  • MPG – 19

  • Very big

  • 2 Seats


Potential car 2
Potential Car #2

2011 Ford Ranger XL

Price - $12,487

  • Has a radio

  • MPG – 20

  • Able to fit all

    tools

  • 2 Seats/Doors


Potential car 3
Potential Car #3

2005 Chevrolet Silverado 1500 LS

Price -$10,990

  • Has a radio

  • MPG – 20

  • Able to fit all

    tools

  • Cheapest car


Financing

P: Specific Principal Amount

M: Number of Months

R: Monthly Interest Rate

Financing

P ( r )———————————( 1 – ( 1 + r )-m )

Loan Company: BECU


Insurance
Insurance

Progressive

Car #1

Insurance Cost: $633 (6 months)

Monthly Insurance Cost: $106.20

Car #2

Insurance Cost: $630 (6 months)

Monthly Insurance Cost: $104.70

Car #3

Insurance Cost: $589 (6 months)

Monthly Insurance Cost: $98.55


MPG

Gas Price:

Shoreline Costco –$3.23



Final choice
Final Choice!

  • My perfect car is the 2011 Ford Ranger XL!

  • Meets all my needs!

  • Already has AC in it

  • I can just paint it red or install a GPS myself

  • Fits in my auto budget!


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