Car Project Andrew Waldecker

2007 Chevy Silverado Extended Cab (Used) 2 Wheel drive 4.3 liter V6 engine 4 speed automatic transmission

2012 Honda Civic Lx Sedan (New) 4 cylinder engine 5 speed automatic transmission Equipped with Bluetooth hands free link 3year/36,000mile warranty

2013 Toyota Tacoma Extended Cab (New) 4 cylinder engine 4 speed automatic 3 year/36,000 mile warranty

Price of Car As you can see the cost of the 2007 Chevy is considerably lower than the cost of the two newer cars. year of vehiclemake of vehiclemodel of vehiclecost of vehiclecity mpghighway mpg 2007chevysilverado extended cab$14, hondacivic lx sedan$18, toyotatacoma extended cab$20,

Miles per Gallon By looking at the graph it is apparent that the mpg of the Honda Civic is significantly more than those of the two tucks. However, the Toyota truck has slightly better mpg than the Chevy. year of vehiclemake of vehiclemodel of vehiclecost of vehiclecity mpghighway mpg 2007chevysilverado extended cab$14, hondacivic lx sedan$18, toyotatacoma extended cab$20,

Average Gas Costs Per Year Gas costs are inversely related to miles per gallon. As a result, as a car’s mpg rises, the overall cost of gas will decrease, due to the fewer number of gallons of gas purchased. This relationship makes the gas price for owning a Chevy higher and for owning a Honda lower, while the price of gas for a Toyota is moderate. year of vehiclemake of vehiclemodel of vehicleavg gas cost per year cityavg gas cost per year highway 2007chevysilverado extended cab$2,343.75$1, hondacivic lx sedan$1,339.29$ toyotatacoma extended cab$1,785.71$1,500.00

Monthly Payment As the graph indicates, the monthly payments for these cars vary by $30. The Chevy has a monthly payment of $332, the Honda is $341 a month, and the Toyota is $365 a month. These are loans with a length of 60 months, so it is important to realize that you may be paying an additional $30 every month for 5 years. That comes to a total of an additional $1,800. year of vehiclemake of vehiclemodel of vehiclemonthly payment 2007chevysilverado extended cab$ hondacivic lx sedan$ toyotatacoma extended cab$365

Yearly Insurance Cost It is important to notice, like the monthly payment, the Toyota has the highest insurance cost. From the graph, you can tell the yearly insurance cost for a Honda and a Chevy are comparable, while the Toyota is substantially more. year of vehiclemake of vehiclemodel of vehiclemonthly insurance costsyearly insurance cost 2007chevysilverado extended cab$317.00$3, hondacivic lx sedan$308.33$3, toyotatacoma extended cab$363.83$4,365.96

Total Cost Of Each Car Over the Years As you can see, the Honda is considerably cheaper than the two trucks and overtime this difference in price is increased. These values were calculated by using the cost of the vehicle after financing (C=monthly payment times 60 because it is a 60 month loan), and adding the yearly price of gas (G) and yearly insurance cost (I). The yearly variables (G&I) were multiplied by the number of years owned[(X) i.e. 5 or 10]. Therefore the formula for total cost is f(x)=C+X(G+I).

Summary I considered two factors when selecting my three cars. I considered price, as I wanted cars of relatively low prices, while also considering desire; if I would be happy with the car. As a result I selected a 2007 Chevy Silverado, 2013 Toyota Tacoma, and 2012 Honda Civic. After viewing the data collected on my three cars I would purchase the 2012 Civic. Even though the initial cost of a civic is more, when adding in the cost of insurance and gas, the civic is the most affordable. The graph that most accurately portrays this is the graph of total cost overtime. When viewing this graph one can see an owner will save thousands over a span of 5-10 years with a Civic. As I intend to keep my car for this period of time, the civic is my best option for a vehicle.