First of all, there are three assignments here although it looks like there are only two. Please read this - I am holding you accountable for knowing these pieces:
Homework: Transportation Estimate Blue Sheet
*This sheet is for estimating the car you can afford to buy based upon your maximum budget allowance. This is NOT the actual assignment for your book and will not necessarily match the car you end up buying. This assignment is for practice using variables based upon your maximum guideline and must be turned in AFTER you buy your car in order to get homework credit. It must be completed and accurate.
On the backside of the worksheet, you will find directions for filling in your ACTUAL purchase on page 102. If your car does not fit between your maximum and minimum guidelines, you WILL need to find another car that fits regardless of what your estimate told you.
For the ACTUAL numbers, use the ones given (and in the charts) on page 102.
Blue Transpotation Worksheet - Due as soon as you have bought your car; put it into the basket.
#21) Transportation Fixed Expenses, page 102-103
The best explanation I have for this page is on the back of the blue worksheet, so use that.
This is where you calculate your ACTUAL purchase following the directions on the page.
*Use the percentages and charts they give you ON the pages.
*Make sure you know the year of your car.
*Determine if it is fuel efficient (current standards are 28mpg)
*Make sure it has enough seats for your family.
*The only thing you may use the internet for is to determine fuel efficiency; look your car up by name, year, and model. Some advertisements say "FE" (fuel efficient). If it doesn't say FE, it probably isn't.
*Circle the numbers you are using on the tables; it helps make my correcting quicker.
* If your car does not fit between your maximum and minimum guidelines, you WILL need to find another car that fits regardless of what your estimate (blue sheet) told you.
*Your final loan amount is line 8, page 103; that represents the loan you are taking out and your monthly payments.
#22) Transportation Variable Expenses, page 104
This page is trickier than you think!
*Read the tables carefully (really carefully) in regards to your mileage, auto age, and fuel efficiency. CIRCLE the numbers you use on the table.
*Read the Maintenance Chart carefully to determine your maintenance costs according to the car you purchase.
This is a "Possibly Impossible" page meaning the numbers may not fall between your minimum and maximum guidelines. This is a page over which you have "no control" after you have purchased your car, so you do not have to meet these guidelines. However, please indicate that this was "impossible" for you on the page which lets me know that you either saved money here or have to work hard to save money and balance your budget elsewhere!
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