Part 1: Comparing New to Used
Purchasing a new vehicle can greatly affect your financial situation. You will gain a better understanding of the car-buying process and the components that affect your monthly payments. You will compare the costs of buying a new vehicle and a used vehicle in the same model.
Directions: Download the above document and answer the questions in the document for Part 1 and Part 2.
Here are some pointers to help you:
Part 1
- Is there a new car or truck you’ve dreamed about owning? Now is your chance to see how much it would cost.
- First, choose a car or truck, then build and price a new model. Copy and paste info on the vehicle you’ve built to include with your project
- Next, look at used vehicles between 2-5 years old of the same make and model. You may look for used vehicles from local dealers, Autotrader, etc.
- Copy and paste info and pictures on the used vehicle to include in your project
- You will use this Car Loan Calculator to calculate payments. After gathering info, answer the questions on the attached document using the prices found for your new and used vehicles car Loan Calculator
- Assume you have no trade-in and no sales tax
- In a short reflection below your questions, answer the following questions have you purchased a vehicle before? If so, do you have any regrets about your experience?
- After this activity, do you feel more confident and informed about buying a vehicle?
- Now that you have completed this activity if you were shopping for a vehicle, would you choose to buy a new or used one? Explain why.
Part 2: Comparing Hybrid to Regular
Question:
Is it worth buying a Hyundai Sonata hybrid instead of the regular Hyundai Sonata?
Download the above document and answer on those sheets. Then upload.
To answer this question we will break it down.
1) What are some of the factors to consider? List at least 3.
2) Focus on the cost of fuel.
3) What is the percent decrease in the gas cost for the hybrid?
4) Research and discuss the starting prices for each vehicle.
5) To better answer the “is it worth it” question, how long it will the gas savings make up for the additional initial cost?
6) Discuss the pros and cons of each vehicle.
