Critical thinking question

Running head: CRITICAL THINKING QUESTION 1

CRITICAL THINKING QUESTION 4

You have decided to buy a car (new or used) but you are not sure how to go about it or what matters. You have just gotten married and you and your spouse area expecting. Your spouse brought several children (2 and 8) and a large dog (great dane) to the marriage as well as a mother-in-law (needs cane).  You have to commute with the vehicle but the payment cannot be about $490.00 a month. 

Respond to this question by describing the problem, developing custom decision criteria and providing a rational for your decision. The cost of $490.00 includes the interest. It does not include insurance, gas or up keep. Your response must be in-depth and in detail explaining every individual point requested in the instructions. Actual print out of car recommended to purchase.

Provide a car to buy not to lease or an alternative method like ubr. Also provide the URL where I can see your recommendation. 

Generic criteria to apply:

Cost

Time

Quality

Risk

Impact

Also learners can use custom criteria they develop

ANSWER

The decision of buying a car is very complex since you have to consider several factors. The following are the factors to consider when buying a car: Cost, time, quality, risk, impact. The plan of buying the car will have to include the size- having enough space to accommodate mother-in-law, the dog, wife, the two children and myself. The vehicle that is to be purchased should have to accommodate more than five family members together with a large dog (great dane).

Cost: According to the size of the family, the recommended car model in this should be minivan such as, Honda Odyssey EX L or similar model. A used car should be considered because of the limited budget. The vehicle cost should be worth around $25,000 to $28,000, so that the monthly cost will not be exceed $490 which includes the interest.

Time: Because this is not just a toy. A car is an expensive thing that need more time to considered in many factors such as, where is the right place to buy a car or what insurance do you need. When you decide which car is your choice, you need to set up for test drive and see if it might be a good fit for you. This process can spend about two weeks or more.

Quality: This is a family car. The car has comfortable 7 seats that allows adjustment. Such seats will be comfortable for mother in-law while travelling because of her age, she can adjust the seats for comfort. The rare seat of the car has the bench of size 40-60 which can accommodate other family members together with a large dog. The speed of the car is reliably fast and safer with FWD.

Risk: A used car has to modify the engine, change the battery and clean the air filters which make the maintenance cost high especially if the car was not in good shape. The interest rate for buying a used car is higher than the interest rate for buying a new car. The overall cost of buying, running, and maintaining a new car is 11618.09 $ while for a used car is 15533.13$ for five years (Harmon, 2014). This means that in the long-term, buying a new car is cheaper than buying a used car.

Impact: It is wise to look for a cheaper vehicle so as that you can spare some money to buy a car seat for a child that is under seven years old following by the Virginia law. The dog is playing an important role in this situation because it is one of family members. The feeding of an adult Great Dane breed of a dog can cost up to $70 for a month. Therefore, these all-other expenses must be included and acted upon hence affecting the type of the vehicle to purchase.

The recommendation of the car is in this link https://www.carfax.com/vehicle/5FNRL6H77JB039061

Reference

Harmon, D. E. (2014). Smart Strategies for Buying a Car. The Rosen Publishing Group, Inc.