Schultz,+K

= **My Chosen Vehicle:** =



My chosen car was a used 2008 Honda Civic EX. When looking for a car, I look for reliability and affordability first, looks among all other things second. This three year old Honda Civic has only 37,414 miles and costs $13,070. With the high rise in gas prices, the 36 MPG Highway/25 MPG City fuel economy will be great, even if the gas costs go down! I currently drive an older civic and know that these cars last forever. They're reliable, affordable, and I really love the look of this Civic EX coupe.

__Financing:__ I would pay for this car by first putting down a $2,070 down payment. This would take the car to $11,000, which I would pay for over a four year period. I used a 5% APR which is a common interest rate when financing a used vehicle. Below are the mathematical calculations used for the figures in the spreadsheet, including the calculator I used to get my monthly payment cost.

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__Calculations:__ Fuel: (8000) / (12) / (30) X (3.88) = $86.00 Monthly Payment: http://www.bankrate.com/calculators/auto/auto-loan-calculator.aspx Insurance: My current insurance costs $1,400 per year. To get my monthly cost I simply divided 1,400 by 12 to get the figure of $117. Oil Changes: Oil costs about $30 to be changed and this should be done every 3 months. I used the calculation (30) X (3) / (12) = $8 per month. Repairs: I read up to find out how much repairs cost on average and found that about 4% of ownership cost is how much you will usually spend on repairs and up keep for your vehicle. After the 4 years of payments, my car will end up costing approximately $21,936. I multiplied this figure by .04% to get the monthly cost of $87. (http://www.consumerreports.org/cro/cars/car-prices/what-that-car-really-costs-to-own-4-08/overview/what-that-car-really-costs-to-own-ov.htm)

*Link to car: http://www.edmunds.com/inventory/used/vin.html?vin=2HGFG128X8H579151&radius=50&make=Honda&model=Civic&year=2008&defaultType=&mode=&invtype=USE