Tuesday, April 13, 2010

The true cost of buying a car

1. Go to a car manufacturer's website and build a 2010 car online.
2. Take a screenshot of the car and the final price including tax and fees.
3. Calculate the monthly payment on a 60 month loan.
4. Calculate the deposit and monthly payment on a 36 month lease with purchase option.
5. Determine the final cost after leasing or payoff.
6. Show how much more you pay by taking out a loan or leasing than the actual price of the vehicle.

Monthly Payment
$ 1,932.35
Amount Financed
$ 107,540.00

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