CAR BUYING PROJECT

Due Date: December 4, 2015

  • The purpose of this project is to research the issues involved in buying a car. You will select a relatively new car (2014 to 2015) in the price range from $7500 to $17500. You will have to describe the vehicle and explain why you chose this vehicle.
  • This Project will have to be typed.
  • This project will can be presented in 3 ways.

A. Report in Clear Plastic Report Cover [6-9 pages 12 pt. Font]

B. Poster [Print and Paste on board]

C. PowerPoint or Prezi. [6-10 slides. Submit via Edmodo]

  • Car Description(Year (2014 or 2015), Make, Model, Exterior Color, Interior Color, Picture, other features)
  • Article Summary [150 word minimum 1-2 pages]
  • Past Car Buying Experience(s) [300 word minimum 1-2 pages]
  • Who…. Needed the car…..needed to sign….sold the car…etc?
  • What….type of vehicle…..price was paid….negotiations took place..
  • When….did you start looking (how long did you look)
  • Where…. Did you go to more than one place to look?
  • Why… did you choose that car… that dealership…that payment…was that interest rate used…..? Was that term chosen
  • How…did you feel about the process… long did the process take….would you change the process…
  • FICO score [ 1 page]
  • What is a FICO Score?
  • Is there only one FICO score?
  • Describe the components of the “FICO score 5”
  • How is fico score 5 different from fico score 8
  • Describe the range of the FICO score you were randomly assigned.
  • What interest rate on a new car loan should you expect for that range?
  • What interest rate on a used car loan should you expect for that range?
  • How does the new car loan interest rate change if your score was 50 points higher?
  • Financing the vehicle [ 1 page]
  • N=48
  • I=
  • PV=
  • PMT=
  • P/Y=
  • C/Y=
  • The payment for my car:______is $______with an 48 month term at a ______% interest rate
  • 5 year cost to own [ 1 page]
  • Go to
  • OR
  • Then copy the chart showing the 5 year cost to own.
  • Decisions….[ 1 page]
  • When buying a car is it better to focus on the Price, Interest Rate, Payment or Term?
  • How do you find the total interest paid to finance a car?
  • Explain why the price of the car is different than the total you pay for the car (payment x term)?
  • List 5 new things you learned from this project
  • How can you apply the skills in the project to other areas?
  • Critique this project... What changes should Mr. Parchment/Ms. Owens make for next year?
  • Rank the difficulty of the project (5 hardest to 1 easiest) ___

RUBRIC Part II

10 points / 6-8 points / 2-5 points. / 0 points
A / Construction/Appearance: is appropriately sized, carefully made, and shows evidence of work. / Construction/Appearance
NOT appropriately sized, NOT carefully made,
NO evidence of work. / Construction/Appearance
NOT appropriately sized, NOT carefully made,
NO evidence of work. / NO PROJECT
B / A list of materials you are planning to use to build the working model and how you plan to obtain them (consider recycling or repurposing) / A list of materials you are planning to use to build the working model and a weak explanation of how you plan to obtain them (consider recycling or repurposing) / An incomplete list of materials you are planning to use to build the working model and a weak explanation of how you plan to obtain them (consider recycling or repurposing) / NO PROJECT
C / A list of specific group members responsibilities / A list of general group members responsibilities / A partial list of specific group members responsibilities / NO PROJECT
D / Research summary describing 3 games you researched, a brief description of how you would calculate probabilities for each game, and the source of your information. / Research summary describing 2 games you researched, a brief description of how you would calculate probabilities for each game, and the source of your information. / Research summary describing 1 game you researched, a brief description of how you would calculate probabilities for each game, and the source of your information. / NO PROJECT
Total