Car Buying Benchmark

JazmineL Car Buying Benchmark
Project Name : JazmineL Car Buying Benchmark
Description :
Name Status Sequence View
Car Buying Benchmark End 1 View
Grading End 2 View

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Instructions for Car Buying Benchmark
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Car Buying Project, Section 1, General Information. Use complete sentences. Include the following: your job, where you live (real life), where you work, your salary (GAI and NMI), the kind of car you decided to buy, and a picture of your car. You are welcome to include extras: video, maps, additional information. To receive a "4" you must also include extra information you gained by doing some extra math.
I live in Inglewood CA. My job is a CPA Accountant which is located in Culver City CA. My yearly salary is $51,897. My gross monthly income is $4,324.75. My Net monthly income is $2,499.70.  The car i decided to buy is a Mercedes-Benz c-63 c-class AMG. The distance from my house to my job is 7.2 miles in the highway. In the city it takes 7.8 miles. The miles I drive for work in one day (there and back) are 14.4 miles. I found this by multiplying 7.2 by 2.
Car Buying Project, Section 2, MPG. Please use complete sentences.Include the following: what mpg stands for, your car's city and highway mpg and what that means, a reason for why there is a difference in city and highway mpg, your car's mpg graph (upload it as an image and place it in this section). You are welcome to include extras: more pictures, videos, or additional information. Level 4 work would include extras such as how many gallons of gas you would use to get to work each month and how much you would spend on gas each month. Be sure to describe the math you used to come up with the level 4 answers.
​MPG stands stands for miles per gallon. My Mercedes Benz MPG in the city is 15 miles per gallon, and the highway MPG is 22 miles per gallon. MPG in the city means that my car can travel 15 miles per gallon in the city. MPG in the highway means that my in the highway my Mercedes Benz  can travel 22 miles per gallon. The difference between highway and city MPG is that it tells you how long you can travel in the city and how long you can travel in the highway. LEVEL 4 If I had to travel 500 miles on the highway, my Mercedes Benz would need 22.7 gallons of gas. I divided 22 into 500, which i got 22.727272. Then i rounded it to the nearest 10th. That's how i got 22.7.
Car Buying Project, Section 3, Loan. Please use complete sentences.Include the following: your car's MSRP, you car's taxes and fees from year 1, the total cost to buy your car, your FICO score. Discuss whether you have a good, bad, or medium FICO score. Discuss the four loans (36 month, 48 month, 60 month, 72 month). Include the APR for each loan, which loan ended up having the most interest, which loan ended up having the least interest, which loan you would decide on and why. You are welcome to include extra information such as an explanation of why you have your FICO score (would be imaginary but it should make sense). You can also discuss how FICO scores affect interest rates. You may also include pictures, videos, and extra information. Level 4 work would include a graph of the loans and other extras you might come up with that require math work. Be sure to describe the math you used to come up with the level 4 answers.
My Mercedes-Benz MSRP Is 151,500. The total cost to buy my car is $32,984.60. My credit score is 800. I have a good FICO score because the best possible FICO score is 850. Without a good FICO score, banks wouldn't loan me money. If I would have a credit score of 500 the bank wouldn't let me borrow money because of how low it is. They would think i wouldn't pay them back on time. My four loans have the lowest percent APR because of my good FICO score. The APR for 36 month 3.61%. For 48 month loan is 3.62%.
Car Buying Project, Section 4, Auto Insurance. Write your accident scenario. Also include your answers to questions 1-4 on the insurance worksheet. You may add extras such as pictures to this section. Level 4 work would include explanations and scenarios including deductibles.
For some reason I was driving down hawthorne blvd. I didn't see the red light because I was grabbing my phone that fell. So I crashed into the car in front of me and making the car in back of me hit me. Which caused us to go into a yard. We hit a swing set making a pole hit a man walking by. Which also caused me to bang my head in the steering wheel. The damage I did to that is going to be paid by my liability coverage is I hit the car in front of me causing it to go into a yard. I also went into a yard damaging plants and wrecking the fence. I also made a swing set hit a man walking by in his foot. 


The car I bought was a Mercedes-Benz C63 AMG. I could afford this car because my job is a CPA accountant. My NMI is 2,499.70 and the largest monthly payment is 967.07 so I can afford the monthly payment. I think this car is fine because I could afford it. I think my future job is to be a doctor.  I probably would be able to afford my car. When i'm 25 the car i'll probably have is like a Altima or any cheep car so i don't waste a lot of money. The thing that I earned about buying a car that i didn't know before is that buying a car can be a lot of trouble. For example if i have a low FICO score that can affect me from buying my car because, the interest rate would be high. The things that i have learned that will help me buy my car in the future is that i shouldn't buy a expensive car if my job isn't a good pay job. Another thing i learned is that i should not screw up in payments because my FICO score can go down and i would have to pay more interest.