Determining what cars we want to purchase. Each group is going to choose a car from the following type.
One sedan, one SUV and one sports car. Find the MSRP(manufacturer suggested retail price) for each car.
The following information should be put into an excel spread sheet for each car that you are going to purchase.
- Decided down payment (15%)
- Cost per month for a lease (3 year lease)
- Residual price of the lease
- Total amount paid over the three year lease(Include the down payment)
- Cost per month of a purchased car (5 year loan)
- Total amount paid over the five year loan (Include the down payment)
For an example of what your spreadsheet should look like for one of the cars click here.
Website to find out the lease payment:
Website to find out the loan payment:
In a table, click here for an example, list the benefits and drawbacks of both buying and leasing a car. Also write a brief synopsis summarizing the differences between leasing and buying a car. (Half a page, single spaced, Times New Roman)(All of process 3 should be on one page)
On Friday we will take notes in class on each group's results and our general discussion. At the end of Friday's class each individual must hand in a copy of the project along with Friday's notes.