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![Page 1: Grant Yost. NEEDS Four door Automatic transition Air conditioning Safe Good gas millage Luggage space Defrosters Anti-lock breaks (If.](https://reader036.fdocuments.in/reader036/viewer/2022080223/56649e0f5503460f94af9ba5/html5/thumbnails/1.jpg)
My Car: A Personalized PlanGrant Yost
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Needs and Wants in a Car
NEEDS
Four door Automatic transition Air conditioning Safe Good gas millage Luggage space Defrosters Anti-lock breaks
(If living in Wisconsin) Powered door locks
WANTS
Black or dark blue color Sport wheels 6-disk CD changer Powerful engine Sport car Sun roof/moon roof Heated leather seats
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2011 Lexus IS 250
15% of my yearly income is $7,972.02$7,972.02 is equal to $664.34 a monthLeasing this car is only $400/month The leasing transfer fee is $200 dollars (Down payment)Over one year I will only be spending $5000Ill be saving $2,972.02 a year I could be spending towards my budget of transportation.
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Gas Costs
Highway : 26 MPG
City : 18 MPG
Average Miles/Year for
20-34 year old male: 17,976
17,976÷12= 1,498
miles/month
(assuming half and half for highway
and city miles)(26+18)÷2= 22 MPG
1,498÷22= 68 Gallons a
month.
68G×$3.88= $264 a month
V6 engine
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Maintenance
With the lease vehicle is under factory
warranty.
Already paid for.
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Performance and Safety records
PERFORMANCE
The IS 250 is swiftly propelled by a 2.5-liter V6, providing 204 horsepower
SAFETY
Anti-lock Braking System All IS models are built with side-
impact door beams to help protect occupants during side collisions. In addition, the front and rear of the vehicle are engineered to crumple at a controlled rate to help absorb energy and manage the impact forces on the driver and passengers.
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Special features
Sporty black rims Bluetooth phone
technology Touch screen deck Heated seats Sunroof Pioneer audio speakers 6-disk changer
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New or Used (lease)
NEW Recently many people have
considered new cars much safer than older ones as brand new vehicles are provided with more contemporary safety features.
USED If you buy a new car, sat at the
wheel, driven off and immediately your car changes its status from “brand new” to “second hand”. This means that its price becomes lower immediately after you have purchased it. Within 3 years an absolutely new car loses around 40% of its value. This is an average indicator & some cars can keep their starting value within rather a long period of time. In most cases a person selling you a used car looses much more that you who is buying it.
LeasingWhen you lease, you pay only a portion of a vehicle's cost, which is the part that you "use up" during the time you're driving it.In my opinion leasing is a better option especially when your only planning on having the car for a certain amount of time.
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My expenses available Lexus Available $ of my 15% income saved
7,972.02 15% / yr $5000/year $2972.02 / year
$664.34 15% / month $400/month $264.34 / month
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Insurance Rates
COSTS
Pay in Full $662.98 (for 6 months)
Pay monthly $156.00
I would pay in full because that way I would save $116.99 instead of paying monthly
TYPES OF INSURANCE
Coverage's Medical Payments Uninsured Motorist Bodily injury Underinsured Motorist Bodily
Injury Rental loss damage waiver Accidental Death Coverage
Your vehicle coverage Comprehensive Collision Security Advantage Extended Transportation New car replacement Personal Effects
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Costs for insuranceCoverage Included Costs
Medical payments $10,000 22.66
Uninsured motorist bodily Injury
$100,000 to $300,000 8.72
Underinsured Motorist Bodily Injury
$100,000 to $300,000 7.27
Rental loss damage waiver
No Coverage 0.00
Accidental Death Coverage
No Coverage 0.00
Comprehensive $500 Deductible 135.65
Collision $500 Deductible 316.94
Security Advantage $75 Included
Extended Transportation
$30/day/$900 Max Included
New car replacement No Coverage 0.00
Personal Effects No Coverage 0.00
Total = $662.98/ 6 monthsOr $156.00 a month
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Fair Price
http://www.kbb.com/new-cars/lexus/is/2011/pricing-report?id=353580&r=636419296095342976
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Dealer add-ons
All wants in I listed previously are included with this 2011 Lexus IS 250.
After 2 years I would most likely get new tires.
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Is this a good option?
For this assignment leasing the car is the best option. Because in this project we don’t take into consideration of how much we will sell it for.
All costs for the car including gas, insurance, new tires, and the transaction fee still has me below 8,000 dollars a year