Personal Financial Management

Personal Financial Management

Upon completion of this assignment, you will be able to: Identify features of a used vehicle that affect your purchase decision; Identify factors that affect the cost of automobile insurance; Calculate the monthly amount of a car payment; Calculate TDSR and determine whether you qualify for a car loan; and Consider the implications of a vehicle purchase from both a risk management and wealth management perspective. Plan for your future car purchase! Assume that you have a goal of purchasing a used car after graduation. Completion of this assignment will require research and multiple calculations. 1. Select a used vehicle model year 2013 or older that you are interested in purchasing. While price is important, other factors must also be considered; such as reliability, cost of repair/maintenance, fuel efficiency, and factors which will affect your insurance premiums. 3} You must submit a copy of the listing of the vehicle. Each student should have a different chosen vehicle. b) You must also provide a rationale for your choice of vehicle considering the factors listed above and others you consider important. State all of your assumptions in writing, with explanation/justication. c) Please provide evidence of your research and reference your sources. You may also need to do some additional research. [10 marksl