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VEHICLESCHOOSING A VEHICLE
Buying a vehicle is a MAJOR purchase and you should make an informed decision based on:
FINANCIAL PLANNERS say that if you borrow money from a bank to purchase a vehicle your total monthly payments for the vehicle should be NO MORE THAN
_______% of your net monthly income (NMI).
EX If your monthly net income is $1200 then what is the maximum monthly loan payment you can afford, according to financial planners?
EX If you purchased a car and your monthly payments are going to be $600, what is the minimum net monthly income that you need?
When you purchase a NEW or USED vehicle from a DEALER you must pay BOTH TAXES, PST and GST.
When you purchase a vehicle PRIVATELY you must pay only pay PST, ONLY IN MB and BC.
EX A new Suburban is purchased from a dealer in MB for $45000. What are the taxes? What is the total amount paid?* We will use a GST of 7% because the textbook uses it from years ago.
EX A used Escalade is purchased privately in BC for $37,500. What are the taxes?What is the total price?
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HOMEWORKpg.139; #19
