FINC 3511-Spring-Project 2
Derek Gallardo March 15, 2023
Step 1
: The vehicle I chose is a 2023 Toyota Tacoma. I chose the Tacoma because Toyotas are
reliable, and they have a lot of room. I don’t like vehicles that have no space.
Step 2:
The car buying process is a process we need to follow to buy a car. There are various
methods in doing so but the ones that work most of the time is to establish a relationship,
investigation, presentation, and demonstration, and “If I, would you?”. For the investigation
phase, salesperson will try and find out how much you’re willing to pay and how much for
payments, but the key is to give less information. For presentation and demonstration, you will
drive the car and really find out all you need to know about the car. During the “If I, would
you?” phase you will need them to come up with the best deal possible or then you’re going to
another competitor.
Step 3:
Small Overlap(
G,A
), moderate overlap(
G
) , side(
G,
M)
, roof strength(
G
), head
restraints(
G
), front crash prevention(
G,
M
).
Overall(4), frontal crash(4), side crash(5), rollover ratings(4)
After looking at the safety characteristics, it has shown me how reliable this car is and how safe
it is. After looking at these it makes me want this vehicle in the future when I’m going to
purchase a car.
Step 4:
MSRP(35,985) , fair purchase price(33,942), dealer invoice(32,384)
Very good(4,794), good(4,794), fair( 4,233)
Step 5:
CarsDirect Target Price( 29,085)
Step 6:
60-month new car (6.30%), 48-month new car(6.27%)
Step 7:
New Car price
$29,085
Registration
$99
Document Prep and Related Fees
$699
Total New Car Price Before Taxes
$29,883
Trade-In Credit for Current Car
$4,794
Net Cost of New Car after Trade-In
$25,089
Taxes
$1,765
Tag, Title, and Related Charges & Fees
$46
Total Before Payoff of Trade-In Vehicle
$26,900
Plus Payoff on Trade-In Vehicle
$2397
Balance Due
$29,297
Step 8:
48
3.25%
4.25%
5.25%
6.25%
$652
$665
$678
$691
60
3.50%
4.50%
5.50%
6.50%
$533
$546
$560
$573
72
4.00%
5.00%
6.00%
7.00%
$458
$472
$486
$499
