Chapter 5 Project: Buying a Car

Chapter 5 Project: Buying a Car

This week you will investigate the cost of buying a car!

Most people assume that the sticker price is the actual amount a car costs, but this is not the case! There are many other factors that go into the true cost of a car. Follow the steps on this worksheet to complete the assignment.

When buying a car, most people cannot afford to pay in full. Usually, people take out a car loan (financing). Buyers will pay an initial payment (down payment) on the car that will be paid to the car dealer. The rest of the money will be financed from a car loan. For the sake of this assignment, here are your rules.

• Your down payment is $2,000
• Your maximum sticker price is $40,000
• Your minimum sticker price is $15,000