In Groups of 1-2, Brainstorm and Determine What Kind of Car You Would Like to Be Driving

My Dream Car

Name______Block______Day______

In groups of 1-2, brainstorm and determine what kind of car you would like to be driving when you are 18. What type of vehicle would you select (e.g. sports car, truck, SUV, sedan)? What colour would you prefer? Are there any special features that you would choose (e.g. hybrid, tinted windows, rims, spoilers, stereo, heated seats, MP3 player, iPod dock, GPS, outside temperature gauge, leather trim, sun roof)? Would you prefer an automatic or standard transmission?

Once you have selected your features, you must determine how much your car will cost. Go to: www.buysell.ca and find your vehicle…

When you have found your car online, record both the link of the Buy&Sell online ad, as well as the price of your car.

Step 1 – Financing

You will need to calculate the monthly cost for financing your vehicle. Calculate the cost over 36/48/60 months, at an interest rate of 8%. What is the total interest you’re paying for each of the 3 terms – what is the total cost to you (interest included)? Remember, you must pay PST (7%) and GST (5%) on your purchase, but you also have a 10% down payment. https://www.schoolroom.ca/StudentZone/Calculators/Loan/

Step 2 – Insurance

Determine how much it will cost you to insure your car.

https://www.bcaa.com/insurance/auto/overview/quick-quote

§  Date of birth: 1 January 1996

§  Year first licensed in Canada: 2012

§  Vehicle use: To/from work over a distance of 15km

§  Liability limit: $1800000

§  Collision deductible: $500

§  Comprehensive deductible: $300

Step 3 – Gas/Maintenance

Estimate monthly costs for both gas and maintenance. You must show me the breakdown. Ex. 375km/week = 18000km/year; 500km=tank of gas; $40/fill.

Step 4 – Fini

Compile all of this information into one document. Include a picture of your car and the link of the Buy&Sell advertisement.