Essential Math 40S Vehicle Finance Project
Vehicle Finance Project – Part 2
Complete this assignment using the vehicle you selected in the first part of the project
1. Using the online insurance calculator (link on the Wiki) and calculate the cost of insurance on your vehicle. Either print out the page or do a screen shot showing your insurance.
You may use the postal code for Birtle (R0M 0C0).
Assume that you choose to have a $200 deductible with $2 000 000 third party liability. You do not drive to or from Winnipeg for work and you have 20% discount from Autopac.
You also decide to get the optional auto loss of use coverage with a daily limit of $68.00 per day. You do not get new car coverage. You also choose monthly (12 pre-authorised) payments.
2. Your car will need maintenance. Using the information in the table below, calculate the cost of the maintenance your car will need.
Assume that you will drive 25,000 km per year
Maintenance / Repair / Schedule / Estimated Cost(Including taxes)
Change Oil and Filter / Every 3 months/5000 km / $55
Rotate tires / Every 3 months/5000 km / $20
Replace air filter / Every 12 months / $30
Replace windshield wipers / Every 6 months / $25
3. Assuming that your car depreciates at a constant rate of 15% per year how much will it be worth in three years time?
Jan 2013 Page 2 of 3