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Car Project - LawEducationClinton - home

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Car Project - LawEducationClinton - home Powered By Docstoc
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                                      Car Project
        This is an Internet assignment. You will be making a real life purchase and
gaining an understanding of how to do it in a technological society. You will be
purchasing a car, financing it, and getting insurance quotes, and then deciding what you
will purchase, using what you have learned. You will need to “Save as” this document to
your space to alter it. On Friday you will put it into a folder to submit it to me. Screen
dumps are done be pressing “fn” & “prt sc”, next paste it to this document.

        To purchase a new car you must visit one of the following websites to build
yourself a vehicle: www.4adodge.com, www.chrysler.com, www.jeep.com,
www.ford.com, www.chevy.com, or you can use a site of your own. Note, this must be a
factory site not a used car dealership site. You may build a car from the websites above
or find a current vehicle they are selling. Try to be realistic. Make sure you do a screen
dump of the final page that shows the price and vehicle you built. You may need to do
more than one screen dump to get all of the information! You must also use the following
website for the vehicles you are comparing: http://fueleconomy.gov/. This will give you
a general idea of the cost of gasoline a year. Please use a screen dump to show me that
you have looked over your two vehicles. Fill out the car specific information below:

Make            Model           Engine           2WD/4WD         # of Doors      Cost



       Next if you have a car at home, which your parents do, you need to go to Kelley
Blue Book (www.kbb.com), to check the trade-in value. Do a screen dump of the price
you have. Then fill in the following information:

Make               Model               Year               Mileage             Trade-In
                                                                              Value


List any Features you have:
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

        Now you need to go to www.calculator.com, to finance your vehicles. Click on
loan. You will use the site to figure the monthly payments for you vehicles. First, you
must fill in the interest rates (IR) that I give you for car loans of 3 years, 5 years, and 7
years. Make sure to select the (-1) button in order to get a monthly cost. Fill this
information in below:
Make/ Model           3 Years Monthly          5 Years Monthly          7 Years Monthly
                      Payment @ IR=5.25        Payment @ IR=7.5         Payment @ IR=9.0


       Now at calculator.com you can fill in the needed information for financing your
vehicle and getting a monthly cost. Fill in information below:

Make/Model Total             Trade-In     Final        3 Year       5 Year        7 Year
           Cost              Value        Cost         Monthly      Monthly       Monthly
                                          (TC-         Payment      Payment       Payment
                                          TIV)



         Next you need to get insurance coverage. Go to www.progressive.com Fill in all
information that is asked of you. For Prior insurance page: 0 days w/o auto insurance in
the last month, your past insurance was the 3rd type listed and today is the expiration date.
Policy coverage you need is: Bodily Injury $100,000 person/300,000 accident, Property
Damage $100,000, PIP $500, Uninsured/Underinsured Motorist $100,000/300,000
accident, Limited Property Damage $500, Property Protection Insurance $1,000,000. Get
any Rental you want and no Roadside Assistance or Loan/Lease Payoff. Fill in the chart
below based on the choices you made that will alter your insurance cost for each vehicle:
You will be given the 6 month and one month rate, calculate the 1 year rate. Do a screen
dump of the information on the last page showing your choices and the cost.

Make/Model Comprehensive Collision                   Rental      1        6         1
           Deductible    Deductible                              Year     Month     Month
                                                                 Cost     Cost      Cost



       Now fill in the Following cost chart based on what you think is the best deal:

Make/Model                Monthly Payment          Monthly               Total Cost
                          for _______ years        Insurance             (MP+MI)



        Take all the information you have gathered and write a 1 page typed summary of
why you picked the 2 vehicles you did, and which one would you buy and why? Think
about what you plan on doing as a career and will this be affordable for you. This should
be a double spaced document on a separate page below your cars. You must make it 1
full page!

				
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posted:12/26/2012
language:English
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