The overall analysis on my Car Project Essay

Submitted By diamonds2003
Words: 815
Pages: 4
Open Document
Re: analysis on car project

The overall analysis on my Car Project is simple. The loan amounts need to coincide with the monthly
Amount so I will be able to afford it.
When I was doing the Car Project, I wanted to see what the differences would be if I listed 4 different car loan amounts, with 3 different APR’s. Now with that in mind, some were close in the payout, and some were like “OH MY LORD”, I am not paying that amount ever!
I love how this had such a dynamic impact on my overall car shopping in the future. I will always try to achieve the lesser in APR rates, and years on the loan I take out.
On the 1st spread sheet, that starts off with $7,200.00 car loan amount, @ 7yrs., at a 2.9% APR. I notice this loan amount made it more beneficial to me in my budget. The other loan amount I would agree to on the 2nd spread sheet was the $16,990.00, with an APR of 1.9% for 6 yrs. Now, that seems very reasonable the payment, but overall it would benefit me in the long run. My experience when doing this project, showed me just how tricky the APR’s can get and how they benefit people when it comes to purchasing a vehicle. But, lots of us won’t always get the best interest rates, unless we have a credit score of 720+. It all is relative around the credit score!! Anyone having to pay the rate of 8.0% and above is extremely crazy!! I will always make sure if the rate is not low, it isn’t worth my pocket book!!

Just a note:
Benefits of Buying when buying a car, once you pay your loan off, the car is yours. This means you can do whatever you want to it and modify it as you see fit, and the only real penalty is a reduced resale value. When buying a car, you always have the option of selling it should you grow tired of it, and conversely, should you truly fall in love with your car, you can keep it as long as you'd like.
Benefits of Leasing
Compared to buying a car, a lease can result in lower monthly payments, as well as a lower down payment requirement, or sometimes none at all. Because of this lower monthly payment, you can often afford to lease a far more expensive car than you would be able to purchase, and because lease terms tend to only last two to three years, a new vehicle that is leased is almost always covered by the manufacturer's warranty. For those who tend not to get attached to their vehicles, a lease is perhaps the perfect arrangement; you get to drive a new car for the best years of its life and then when the lease is up, you can move on to another car without having to worry about trade-ins or selling your car. For those interested in buying, a lease purchase deal can give you the option to purchase the car for a reduced price at the end of the
Show More

Related Documents: The overall analysis on my Car Project Essay

Reflective Paper

informed of my internship assignment, which happened to be in Business Analysis Division, I had a vague idea of what that position would entail. A future role of business analyst seemed to be both very challenging yet rather exciting. Going into my first day I wasn’t sure as to what is expected of me as an intern and how I would add value. Right before the start of my internship term, I was recommended to read a book “Business Analysis: Best Practices for Success” by Steven P. Blais. My intention…

Words 2422 - Pages 10

Essay On Models For Decision

Deadline: 7th, Aprial Word Count: DECLARATION By submitting this work online I confirm that this piece of work is a result of my own work except where it forms an assessment based on group project work. In the case of a group project, the work has been prepared in collaboration with other members of the group. Material from the work of others not involved in the project has been acknowledged and quotations and paraphrases suitably indicated. Furthermore, I confirm that I understand the definition…

Words 2845 - Pages 12

Nt1310 Unit 2 Assignment

experience and knowledge gained during my tenure. Chronology : 14th August 2011 to 15th October 2014 Name of the organization : Scott Biotech Private Ltd Geographic location : Delhi, India Project Title : Installation, testing and programming of serial communication panels, variable frequency drive, car…

Words 1723 - Pages 7

Essay about Connected Commuting: Connecting Commuters through Mobile Phone Apps

Connected Commuting Research and Analysis from the New Cities Foundation Task Force in San Jose Research report cocreated with: This study was commissioned and published by the New Cities Foundation. You can copy, download, or print this report for your own use, and you can include excerpts from New Cities Foundation publications, databases, and multimedia products in your own documents, presentations blogs, websites, and teaching materials, provided that suitable acknowledgment of the…

Words 7209 - Pages 29

Hidden Intellectualism Gerald Graff

is too directly related to school subjects like literature and history. Most do not consider the idea that subjects like cars or games could cultivate critical thinking skills that schools try to teach. Our culture views these topics on a lower scale in comparison with what is the traditional liberal arts ideal curriculum because of how our education system currently runs. Overall, they rely too much on the literature and subjects themselves rather than the formation of debates and conversations among…

Words 1379 - Pages 6

Essay on Green Propulsion Midterm

originally founded by three key entrepreneurs who met in the 1990’s at Liege University. These three founders consisted of Yves Toussaint, GP’s CEO, who was an electro-mechanical engineering graduate with a doctorate in Applied Sciences. The next was GP’s project manager, Nicolas Naniot, who graduated as an electro-mechanic engineer with expertise in energetic management of the hybrid vehicle as well as digital communication systems. The third founder, Bernard Loly, graduated with a degree in automation and…

Words 2603 - Pages 11

LIRRCC Position Paper on Old Rockaway Beach Line

and for-profit status, operated what was known as RBL or Rockaway Beach Line. Approximately 2 years ago, I initially briefed this Council on RBL. Some Members requested that it wasn’t the opportune time to discuss RBL – there were more important projects that were needed for improved service to Nassau & Suffolk Counties. In life, we always point out how timing is everything. The time, and need, has arrived for additional transit options for both Rockaway and Queens County residents and tourists -…

Words 983 - Pages 4

Flight Club

The Minute you sit down in that chair in the movie theater, you already have a preset notion of who the director preferred audience will be and what the overall message will be. Flight Club has a very distinct way in the manner in which the director shows no leads as to who the movie is for. In my opinion the general audience that Fincher wrote this movie for was the generation of the baby boomers, anyone born in between 1960’s and 1980’s. They were the generation that would change everything in…

Words 1350 - Pages 6

Case Study Of Innovation In The Car Industry

ABSTRACT The car industry has constantly provided us the consumer with a wide range of choices and varieties to suit our needs, but with the vast amount of competition how do car manufacturers attract our attention. Unique designs, impressive technology, price and customer service are all the areas consumers look for in a car, to meet these demands car manufactures need to constantly come up with new ideas to stay ahead of other competitors, introducing creative ideas which are better than what…

Words 13571 - Pages 55

Jiawei Ding Essay

achieve these series acquisition activities. Although the finance director’s view is that the company can raise capital from target countries rather than in the UK, I personally think the drawbacks of taking this action are overweight the merits and my reasons are as follows. In terms of the costs, we know that the most efficient and popular means of raising capital is making loans from banks or issuing bonds and equities through the exchanges. Therefore, the total cost involves interest rate,…

Words 3342 - Pages 14