Project Two (Numbers: Budgeting and Credit) Can you afford to buy your ideal car? Clarify: Our grandparents have given us $3400 to buy a car that is in good condition. The car has to be over the amount of $10 000. I have to prove that I can afford the car to get the personal loan and also have to prove that I can run it as well as just purchase it. My annual wage is $23 000. Some factors when buying a car could include: i. Can we get insurance? ii.
Can we afford to run the car? iii. Get a RAC report on the car to see whether there is anything wrong with it. Some cost involved in buying a car could be: i. Running Cost ii. Actual car iii.
Insurance iv. RAC report v. Transfer fee I am going to take out my loan at ANZ Bank as I have researched that they have the cheapest rates. Some assumptions that I have made are: i.
The cost of fuel is 89 cents per litre ii. I am living with my parents iii. I have a mobile phone bill every month iv. My annual income has already been tax reduced v.
I already have $2000 of my own money saved vi. And I am 27 years of age. Other living expenses could include: i. spending money ii.
The Term Paper on Health Care Costs 2
There is a short history when it comes to health care this history does provide a small view of how the United States decided that it would make a simple choice for supply and demand, this was done through fee-for-service to managed care, for PPOs, as well as other insurers of health care which also included the federal government. Fee-for-service in the early 1900s was thought of as the norm. for ...
Food – Take away iii. Bills – Mobile Phone Choose: It would cost me $2082. 60 on fuel to run my car for one year. 89 cents per litre – 10 L/Km = 450 Km per week… 89 45 = $40. 05 = $40.
05 52 = $2082. 60 The way I would set out my plan would be: Income per week = Board – from income, – phone bill, – repayments, – spending money = ? ? ? And then use the rest on maintenance on the car + fuel cost. Use: The Car costs $13 990 and I have $5300. I am going too take out a loan of $10 000 of a period of one year.
To purchase my car it would cost overall $11000 + $150 transfer fees. The way I will repay will be by: $23 000/52 = $442. 30 Repayment = $11 000/52 = $211. 55 $442. 30 – Board/ per week = $50 – Phone bill = $10 per week = $170. 75 – Spending money = $100 = $70.
75 = $70. 75 – $40. 05 for fuel = $30. 70 which can be used on the maintenance on the car or others. Running the car for one year: i. $2082.
60 for fuel ii. $700 on insurance iii. $290 on maintenance = $ 3077. 60 for the year.
Interpret: If I get the loan I will be able to buy the car and I will be able to run the car as well as live if I follow the plan which I have just created. In this investigation I had to do some research on the insurance companies and the cost of RAC reports on cars so I should make this project work. Report: To ANZ Bank To Whom It May Concern: I am writing this letter o confirm my personal loan that I am trying to receive and in this letter will contain my evidence that I can afford to pay off the loan over a one year period. I am requesting for a loan of $10 000. I have an annual income of $23 000 and I have made a plan to make sure I can afford the car as well as run it and live a quiet comfortable life. The plan which I made is: $23 000/52 = $442.
30 Repayment = $11 000/52 = $211. 55 $442. 30 – Board/ per week = $50 – Phone bill = $10 per week = $170. 75 – Spending money = $100 = $70. 75 = $70. 75 – $40.
05 for fuel = $30. 70 which can be used on the maintenance on the car or others. This evidence that I can afford the car and repay the loan comfortably as well as living a normal life. I hope you will make the right decision by giving me the loan as it will be greatly appreciated. Yours faithfully, Triton Petrol.
The Research paper on Financial Impact Of Defaulted Car Loans In Automotive Industry
Car loan is one of the consumer’s credits that are applied for personal use of a vehicle. This is usually unsecured and it is based on the borrower’s ability to pay. Most consumers need financing or leasing to acquire a vehicle. This paper explores how the defaulted consumer car loan affects the Philippines Automotive Industry. Base on Esquire Financing Incorporation, they seek the five C’s of ...
