User Account

All Pages

Discussing the financing of a new car

Assignment Help Finance Basics
Reference no: EM13858171

Your Assignment is to write an essay discussing the financing of a new car for your business.

The price of the used car is $20,000. Sales tax on this car is 8.4% of the price of the vehicle. You intend to finance the entire cost of the car and sales tax, less a down payment of $1,500. You intend to finance the car for 48 months and your car payment will be $455.12 per month.

Your essay should in include the following information

1. Calculate and discuss the amount financed, the installment price of the new car, and the finance charges you will pay over the life of the loan.

2. Compare and contrast the advantage of paying cash and financing the vehicle over a shorter period of time, as well as, the impact of finding lower interest rates.

3. Research and discuss the advantages of having good credit versus poor credit when qualifying for a loan. Discuss the implications of your credit score on the interest rates you may qualify for.

Your essay should be complete and cover each point as outlined above. Be sure to include at least one text citation.

Reference no: EM13858171

Questions Cloud

Identify and clearly state the problem and issues : Provide a detailed analysis of the causes of the problem/issue. Be sure the causes you identify relate directly to the problem/issue.
Identify the role of consumer involvement applicable : Role of Involvement in purchase decisions. Student can identify the role of consumer involvement applicable to a specific product or service offering and how that level of involvement affects the type of decision making
Design the tests of details for purchases : Design the tests of details for purchases that you would use to supplement the analytical procedures. Relate each test to the relevant assertion for purchases.
What do we mean by organization mission and vision : What is a product and what do we mean by the four different types of utility? What do we mean by organization mission and vision
Discussing the financing of a new car : Your Assignment is to write an essay discussing the financing of a new car for your business.
Identify and outline the function of digital certificates : Explain the concepts of encrypting data and securing e-mail transmissions
Develop a detailed marketing plan for a company : Develop a Marketing Plan For the requirements of this assignment, you assume the role of a marketing consultant. You have to develop a detailed Marketing Plan for a company of your choice or the company you currently work for. As they need to incr..
Initial loan amount in your account : You open a brokerage account and purchase 200 shares of Google at $443.05 per share.You borrow 40% from your broker to help pay for the purchase.The interest rate on the loan is 8%. What is the initial loan amount in your account?
Difference between a standard rule-based and a fuzzy expert : Consider the difference between a standard rule-based expert system and a fuzzy expert system.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd