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Test Drive

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

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  1. Test Drive By: Robert Harold Jr.

  2. 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.

  3. Potential Car #1 2008 Dodge Ram 1500 SLT Price - $12,390 • Has a radio • MPG – 19 • Very big • 2 Seats

  4. Potential Car #2 2011 Ford Ranger XL Price - $12,487 • Has a radio • MPG – 20 • Able to fit all tools • 2 Seats/Doors

  5. Potential Car #3 2005 Chevrolet Silverado 1500 LS Price -$10,990 • Has a radio • MPG – 20 • Able to fit all tools • Cheapest car

  6. P: Specific Principal Amount M: Number of Months R: Monthly Interest Rate Financing P ( r )———————————( 1 – ( 1 + r )-m ) Loan Company: BECU

  7. 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

  8. MPG Gas Price: Shoreline Costco –$3.23

  9. Final Comparison

  10. 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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