Researching a Car Project
You are responsible for doing a PowerPoint on buying a new automobile. You may research the car you select using websites such as Kelly Blue Book www.kbb.com (Links to an external site.), www.cars.com (Links to an external site.), AutoTrader www.autotrader.com (Links to an external site.), and True Car www.truecar.com (Links to an external site.) or any car website of your choosing. You may also visit car manufactures websites such as www.Ford.com (Links to an external site.), www.Audiusa.com (Links to an external site.), www.Toyota.com (Links to an external site.) to name just a few.
WHAT TO DO: All materials must be uploaded to Canvas to receive a grade
Create a PowerPoint with the presentation consisting of 6-10 slides.
Information to include in your presentation:
Manufacture, year and model of your car selection.
Research available options that you would want on your vehicle. These may include Navigation, Premium audio entertainment, wheels etc.
What is the MSRP, Invoice Price? Palm Beach County has a 7% sales tax. Include the sales tax in your final purchase price. What is the amount of tax you would pay on this car assuming you purchase it?
What is a current interest rate offered for a high-quality borrower with a minimum 740 credit score on the vehicle? Bankrate.com to find information.
Does the manufacture offer any purchase or lease incentives on the car? Such as rebates length of term, interest rate offers. Look at the manufacture website to find rebates/incentives.
Does the manufacture offer a college graduate incentive?
Try to find information on current safety or crash test results. Information can be located at www.safercar.gov (Links to an external site.) or www.nhtsa.gov
Calculate what a 60 month payment would be using the cars invoice price plus 6% sales tax and using a 20% down payment on the purchase. Car calculators can be found on multiple websites including www.bankrate.com (Links to an external site.).
Over a typical 60 month period what would the total of all your payments add up too? How much of your total payments would be interest over the 60 month period.
Search for the average 5 year costs of owning the car.
You can pick any car you want. It can be new or used. You can even use your own car.