Can you afford a car?

Automobile Simulation

Can you afford a car? Part I: #1

Pick any type of car between the cost of $8,000- $20,000

Think about what you will need it for and the cost to insure

Part I: #2 Make- Company Name Model- Type of Car and trim Year Asking price Mileage Color Location

Part I: #3 What is Kelley Blue Book? KBB: Kelley Blue Book Value

WHAT PEOPLE ARE REALLY PAYING FOR THIS VEHICLE

MSRP: Manufacturers Suggested Retailed Price Price set by the Manufacturer

New Cars: MSRP Invoice Price – what auto manufactures charge

dealers New Car Kelley Blue Book Value

Used Cars: Suggested Retail in Excellent or Good Condition

New Car KBB Value:

MSRP

INVOICE

What people are really paying!!!

Used Car: Suggested Retail Value

dealer's asking price and the starting point for negotiation.

Part 1: #4 How do you compute the loan?

TOTAL PRICE- DOWN PAYMENT= LOAN AMOUNT

This is the amount you will borrow

It is your principal

You will use the asking price

Part I: #5 sales tax, title & registration www.dor.mo.gov Click Motor

Vehicle License to the left

Choose calculate sales tax

Select: St. Louis County

Select: City Click the drop

down and choose the city you live in

Part I: #6 Find your Monthly Payments We will use an interest calculator FIND YOUR LOAN AMOUNT FROM #4

1. Click on CALCULATORS2. Select Monthly Auto Loan Payment

Insurance Use the information below as you go eSurance.com to

get quotes/ estimates/ costs/ prices/ premiums for insurance coverage:

63017, go 1 car, 1 driver, heard about via “other”, no current insurance,

next year, make, model, commuting to work/school, mileage 5,000-

$10,000 financed, next Joe or Jane, 1/1/1989 or 1984, male or female, single, 16,

jsmith@yahoo.com, SKIP OPTIONAL BOXES, no violations, next check anti-theft box, do not check specialized occupations box,

next 30 days or less 369 N Woods Mill Rd., Chesterfield MO 63017 basic, 1,000, 1,000, no, get my quote

Look at the 6 month Premium…