MBF 3C So you think you need a car … Search Engines used: google.ca, askjeeves.ca Assignment adapted from the OAME resources for MBF3C revised curriculum 2006

Activity expectations Foundations for College Mathematics, (MBF3C) Grade 11, College Preparation Owning and Operating a Vehicle Goals Interpret information about owning and operating a vehicle, and solve problems involving the associated costs. gather and interpret information about the procedures and costs involved in insuring a vehicle and the factors affecting insurance rates and compare the insurance costs for different categories of drivers and for different vehicles gather, interpret, and compare information about the procedures and costs (e.g., monthly payments, insurance, depreciation, maintenance, miscellaneous expenses) involved in buying or leasing a new vehicle or buying a used vehicle solve problems, using technology (e.g., calculator, spreadsheet), that involve the fixed costs (e.g., license fee, insurance) and variable costs (e.g., maintenance, fuel) of owning and operating a vehicle

Success Criteria Use the links on the PowerPoint to help you answer the worksheet Use the links on the PowerPoint to help you answer the worksheet Complete all of the sections to the best of your ability Complete all of the sections to the best of your ability Show all values used in your calculations Show all values used in your calculations

Choosing a car Choosing a car There are many factors in choosing the car for you. They may include: There are many factors in choosing the car for you. They may include: What are you using it for? Weekend fun or back and forth to work? Does it need to be able to move large objects? How many passengers must it hold? Is it for in-town or long haul driving? What is the gas mileage? Can you do repairs yourself? Keeping the above points in mind, check out some vehicles on the following sites

Now that you have seen some vehicles, chose a vehicle that you might like to own in the near future. You should try to be realistic (don’t get carried away). It should be the current model year of the car. On your assignment sheet state the following information:  vehicle make, model and all options you chose  the purchase price of the vehicle  the purchase price of the vehicle  the fuel consumption rating for the car  the fuel consumption rating for the car Pretending that you are buying this vehicle, check out the following links to find out other costs associated with owning a vehicle. vehicle costs vehicle costs Include these costs on your assignment sheet.

License and Registration Click on the Logo below to go to the Ministry site to find out how much your license plate validation sticker will cost you. Include this on you vehicle cost sheet.

Fuel Costs The costs of fuel changes regularly. Check out to find the lowest price for gas in the Orillia area. Record this on your sheet. How much will it cost you to fill up your tank with gas today? (you might need to check the specks on your car to find the tank size)

Insurance Before you put your vehicle on the road you need to get insurance. Choose from the following link below to get you started on answering the next set of assignment questions and finding some insurance. Scenario 1: Assume you have your license when answering the required questions and have no driving convictions. Scenario 2: Assume you have your license, two speeding tickets, and an accident. 3 other factors you have discovered can affect your insurance. Include which site this information was obtained from. List 3 other factors you have discovered can affect your insurance. Include which site this information was obtained from.

Paying for your vehicle You have the option of leasing or buying your vehicle. Banks are offering 8.2% compounded monthly on car loans. Use the TVM solver to calculate your monthly payment.

New vs Used Depreciation Depreciation is the major disadvantage to buying a new car. A car depreciates in value the most during its first year. Here is a chart that shows the typical depreciation rate of a car. Depreciation is the major disadvantage to buying a new car. A car depreciates in value the most during its first year. Here is a chart that shows the typical depreciation rate of a car. Time Depreciation(% of previous year’s value) 1 st year 30% 2 nd year 15% 3 rd year 15% 4 th year 10% 5 th year 8%