BUYING A CAR OTTW BY: SPENCER JENKINS AND ETHAN WOLCOTT
JOB Car Salesmen Annual gross salary: $120,000 Taxes: 25%, or $30,000 Net income: $90,000
LIVING SITUATION Shares an apartment with a roommate Rent: $800 monthly Internet bill: $100 monthly Electric Bill: $100 monthly
EXPENSES AND SAVINGS Necessity budget: food, clothing, $500 monthly Health insurance: $450 monthly Activity's: $200 monthly Annual Expenses: $35,400 Annual Money saved: $54,600 Monthly savings: $4,550
2016 F-150 White 2016 F-150 Super cab short bed 5.0L V8 w/ 6 speed automatic transmission 4 Wheel Drive and 3.73 Locking Rear Differential MSRP: $38,580 MSRP w/ sales tax: $39,544 Due at signing, including down payment and payment due at signing : $10,000 Monthly payment: $ a month for 48 months
PAYING FOR THE TRUCK We are going to pay out of pocket and put $10,000 down and $ monthly We have a 48 month loan with 4.5% interest rate Total loan amount is$29, with $ in sales tax After 48 months we have paid $32, with $2, in total interest Total cost including price, interest, tax, and fees: $42, After the truck was fully paid off we paid a total of $ more than the MSRP
SOURCES calculator.html?cloanamount=38580&cmonthlypay=380&cloanterm=48&cinterestrate=4.5&cdownpay ment=10000&ctradeinvalue=0&csaletax=2&ctitlereg=300&cttrinloan=1&printit=0&ctype=standard&x= 99&y=6 calculator.html?cloanamount=38580&cmonthlypay=380&cloanterm=48&cinterestrate=4.5&cdownpay ment=10000&ctradeinvalue=0&csaletax=2&ctitlereg=300&cttrinloan=1&printit=0&ctype=standard&x= 99&y=6