“Deals on Wheels†Car Loan Project
“Deals on Wheels†Car Loan Project
“Deals on Wheels†Car Loan Project
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Example 1<br />
Calculating Amount to Be Financed/Borrowed<br />
“Deals <strong>on</strong> Wheels!” <strong>Car</strong> <strong>Loan</strong> <strong>Project</strong><br />
Student Worksheet<br />
Vehicle Make/Model<br />
________________________________________<br />
1. Price of Vehicle $<br />
2. Tax (8% of price) +<br />
3. License (2% of price) +<br />
4. Vehicle Total Cost =<br />
5. Vehicle Trade-in Value -<br />
6. Down Payment -<br />
7. Total Amount to Be Financed/Borrowed = $<br />
Example 2<br />
Vehicle Make/Model<br />
________________________________________<br />
1. Price of Vehicle $<br />
2. Tax (8% of price) +<br />
3. License (2% of price) +<br />
4. Vehicle Total Cost =<br />
5. Vehicle Trade-in Value -<br />
6. Down Payment -<br />
7. Total Amount to Be Financed/Borrowed = $<br />
10 of 20 “Deals <strong>on</strong> Wheels” <strong>Car</strong> <strong>Loan</strong> <strong>Project</strong> - Revised 09/14/2004<br />
Finance and Business Industry Sector Grant – Sierra College
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