Car Payments Essay

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Finances Car: 2005 GMC Pick up Truck Bluebook Value: $13,000 Purchace Price: $10,000 Down Payment: $2,000 Tags and Registration: $223 /Year Insurance: Hartford $100 Drives 10,000 miles a year 25 miles per gallon 400 gallons a year at $3.20 per gallon $100 per month for gas 2 oil changes per year for $90 a year Tire changes: $100 a year Monthly Car Payment: $195. 30 Hourly work: $10.50 Monthly Payment (car+ins.+gas): $395.30 Situation 1: 20 Hours a week $210 - 31.50(tax)= 178.50 Weekly pay $714 monthly $714 - 275(college)= $439 Save: $400 5 months to save $2,000 $439-395.30= $44 Situation 2: 30 hours a week $315 - 47.25(tax)= 627.75 weekly pay $1,071 monthly $1,071- 275(College)= $796 Save: $750 3 months to save $2,000 $796-395.30= $400.70 Situation 3: 40 hours a week $420- 63(tax)= 357 weekly pay $1,428 monthly $1,428- 239.50(college)= $1188.50 Save: $1,000 2months to save $2,000 $1188.50- 395.30= $793.20 Situation 4: 35 hours a week $367.50- 55.13(tax)= 312.37 weekly $1249.50 monthly $1,249.50- 239.50(college)= $1010 Save: $1,000 2 months to save $2,000 $1010- 395.30= $614.70 Situation 5: 20 hours a week $210- 31.50(tax)= $178.50 weekly $714 monthly $714- 150(college)= $564 Save: $550 4 months to save $2,000 $564- 395.30= $118.70 Situation 6: 40 hours a week $420-63(tax)= $357 weekly $1428 monthly $1428- 114.50(College)= $1313.50 Save: $1200 2 months to save $2,000 $1313.50- 395.30= $818.20 Situation 7: 30 hours a week $315- 47.25(tax)= $267.75 weekly $1071 mothly $1071- 150(college)= $921 Save: $900 2 1/2 months to save $2,000 $921- 395.30= $525.70 Situation 8: 35 hours a week $367.50- 55.13(tax)= 312.37 weekly $1249.50 monthly $1249.50- 114.50(college)= $1135 Save: $1,000 2 months to save $2,000 $1135- 395.30=

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