Challenge Yourself 3.3
samysmith
-EX2016-ChallengeYourself-3-3.xlsxPurchase
| Vehicle Purchase | Analysis | ||||||
| Vehicle 1 | Vehicle 2 | Vehicle 3 | Vehicle 4 | ||||
| Description | 2016 Ford Mustang Convertible | 2014 Honda Accord Hybrid | 2014 Ducati Diavel Strada | 2016 Chevy Colorado | |||
| Vehicle Type | Passenger | Passenger | Motorcycle | Truck | |||
| Seller | dealer | private seller | private seller | dealer | Average | Highest | Lowest |
| Price | $27,800 | $20,463 | $14,250 | $20,100 | Price | ||
| MPG City | 17 | 50 | 36 | 22 | MPG City | ||
| MPG Highway | 28 | 45 | 36 | 31 | MPG Highway | ||
| Average MPG | Average MPG | ||||||
| Yearly Costs | |||||||
| Maintenance/Year | $600 | $300 | $500 | $500 | Maintenance/Year | ||
| Registration Fee | Registration Fee | ||||||
| Insurance/Year | $1,000 | $700 | $1,500 | $600 | Insurance/Year | ||
| Need Loan? | |||||||
| Amount to Borrow | Amount to Borrow | ||||||
| APR | 3.20% | 1.90% | 5.90% | 2.90% | APR | ||
| Years | 5 | 3 | 2 | 3 | Years | ||
| Monthly Costs | |||||||
| Loan Payment | Loan Payment | ||||||
| Gas | Gas | ||||||
| Maintenance/Month | Maintenance/Month | ||||||
| Insurance/Month | Insurance/Month | ||||||
| Total Monthly | Total Monthly | ||||||
| Affordable? |
Data
| Vehicle Purchase Assumptions | ||
| $8,000 | Total Cash Available for Vehicle Purchase | |
| $500 | Total Monthly Amount Available to Pay for Operating Vehicle | |
| 600 | Number of Miles I Expect To Drive Each Month | |
| $2.50 | Gas Price Per Gallon | |
| Registration Fee Lookup Table | ||
| column # | 1 | 2 |
| Cargo Van | 100 | |
| Farm Vehicle | 68 | |
| Motor Home | 100 | |
| Motorcycle | 60 | |
| Passenger | 100 | |
| Trailer | 30 | |
| Truck | 100 |
