Filetype Excel XLSX | Posted on 17 Aug 2022 | 4 years ago
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461x Filetype XLSX File size 0.03 MB Source: f.hubspotusercontent30.net
Sheet 1: Purchase Plan
| STEP ONE - Estimate the trade in or sale value of existing cars. | |||
| Low Range | High Range | ||
| Car 1 | $13,000.00 | $15,000.00 | |
| Car 2 | $10,000.00 | $13,000.00 | |
| Total Potential Value | $23,000.00 | $28,000.00 | |
| STEP TWO - Calculate the balance of any existing loans. | |||
| Loan Amount | $17,000.00 | ||
| Interest Rate | 5.56% | ||
| Periods (term in months) | 72 | ||
| Compounding periods per year | 12 | ||
| Total interest over loan term | $3,031.96 | Total interest over three years | $1,515.98 |
| STEP THREE - Calculate annual and three-year cost of existing vehicles | |||
| Yearly Cost Including Gas and Repairs | $5,000.00 | Three-Year Cost | $15,000.00 |
| STEP FOUR - Find total potential three-year savings | |||
| Total saved after three years by selling existing vehicles (step three) and paying off a loan (step two). | $16,515.98 | ||
| STEP FIVE - Calculate balance after selling car(s) and paying off loan | |||
| With Low Price of Vehicles | With High Price of Vehicles | ||
| $6,000.00 | $11,000.00 | ||
| STEP SIX - Determine monthly and three-year cost of new vehicle after downpayment. (Use your preferred automakers lease or loan calculator.) | |||
| With Low Price of Vehicles | With High Price of Vehicles | ||
| Monthly Cost | $594.28 | $467 | |
| Three Year Cost | $21,394.08 | $16,812 | |
| STEP SEVEN - Add up any available incentives | |||
| Federal Tax Credit | $7,500 | ||
| Power Utility | $1,500 | ||
| Total | $9,000 | ||
| STEP EIGHT - Calculate total cost of new vehicle over three years after incentives. | |||
| With Low Price of Vehicles | With High Price of Vehicles | ||
| $12,394.08 | $7,812 | ||
| STEP NINE - Calculate net savings after three years | |||
| With Low Price of Vehicles | With High Price of Vehicles | ||
| $4,121.90 | $8,704 | ||
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