Savings/Loss to run new vehicle for term of contract
Description of Vehicle
Sales tax rate percentage
Sales tax
Value at end of term
Value at end of term2
Probable Rate of return on cash if no purchase (%).
Lost investment income on money toward new car
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Do A Deal Auto Buyer Financial Guide
Do A Deal determines how much it will cost you in the long run to purchase a different vehicle, compared to keeping your current vehicle. You can even store different deals in order to compare several vehicles that you might be looking at.
Do A Deal does take into account the lost investment on your money that goes toward both your vehicle and the new vehicle that you are considering. In other words, if you invested the money instead of spending it on either of the vehicles, the amount that you would have made investing the money is considered part of the cost of owning the vehicle.
Simply click the New button to start a new deal. Answer the questions asked to come up with how much -more or less- you would spend over the term of a contract for the new vehicle.
If your current vehicle requires high maintenance, you might be surprised what kind of car you could afford.
If you enter a probable rate of return for your money, you will even find out how much lost investment potential you could have.
Features
This application uses a number of financial @functions in calculating the answer. Many of the answers are the same formulas that car dealers use to determine your payment plan. To make ObjectVision ask the questions in the columnar order, a field was added called Guide just to the right of the description. This field has a formula in it to ask for the answers in the order desired. There is help offered throughout on each field that requires a response from you. If you don't understand what is being asked for, press F1.
Price of Vehicle - This is the amount that you will pay for the vehicle before the trade or down payment.
-Trade for your vehicle - This is the amount the seller is willing to allow for your vehicle.
+Payoff of your vehicle - This is the amount that you still owe on your vehicle.
-Cash down payment - This the amount of cash you are willing to put toward the vehicle. If you are going to pay cash for the vehicle, enter the entire balance here including the filing fee and service contract. If you don't know how much to put for the entire amount, leave this blank until after the unpaid balance is displayed and then enter the unpaid balance amount. The unpaid balance should then be zero.
+Filing Fee - Typically there is a filing fee necessary for filing your purchase with the state. This is usually a small amount if you want to leave it blank or simply ask your dealer if there is a filing fee.
+Vehicle Service Contract - If you purchase a service contract with your vehicle, enter the up front cost of the service contract.
Annual Percentage Rate - This is the percent that you will be charged for borrowing money to purchase the vehicle. This entered in a percent format on an annual basis. For example; 12.5% APR is entered 12.500 not 0.12. If you are not borrowing to pay for the vehicle, you can leave this field blank.
Term of Contract (Months) - This is the number of months until you have the loan for this new car paid off. If you are paying cash for the vehicle, you should still put in a term that you can compare the costs of your current car versus the new car. This should be at least the length you will keep your current vehicle if you didn't purchase the new vehicle.
Miles/Gallon your vehicle - This would be the average miles per gallon that you would get on your vehicle over the term of the contract.
Miles/Gallon new vehicle - This would be the average miles per gallon that you would get on the new vehicle over the term of the contract.
Price of gas/gallon - This is the average price for the term of the contract.
Miles driven per month - for the new vehicle.
Monthly Payment - This is the current amount you are making toward monthly payments on the car that you currently own.
Payments Left - This is the number of payments remaining on your vehicle.
Monthly Maintenance Costs - How much you expect to pay for maintenance for the term of the contract for your vehicle.
You have to try to estimate for the term any major repairs that may take place, tires, oil and lube, ect.
Monthly Maintenance Costs - How much you expect to pay for maintenance for the term of the contract. Hopefully this number is less than your current vehicle.
You have to try to estimate, for the term, any major repairs that may take place, tires, oil and lube, etc.
Do A Deal is a tool for you to determine how much it will cost you in the long run to purchase a different vehicle compared to keeping your current vehicle. You can even store different deals in order to compare several vehicles that you might be looking at.
Simply click on the "New" button to start a new deal. Answer the questions asked for, to come up with how much more or less you would spend over the contract for the new vehicle.
If your current vehicle is requires high maintenance, you might be surprized what kind of car you could afford or break even with.
If you enter a probable rate of return for your money, you will even find out how much lost investment potential you could have.
Sales tax rate percentage - Enter this in a percentage format. For example - 6.5% is entered 6.5 not 0.065.
Value at end of term - This would be the estimated amount that you could sell the new vehicle for at the end of the term.
Value at end of term - This would be the estimated amount that you could sell your vehicle for at the end of the term.
Probable Rate of return on cash if no purchase (%) - Because you are usually spending money on a vehicle that could have been invested, you are actually losing a potential investment. This number is carried as part of the cost of owning your vehicle, both the new vehicle and your current vehicle. It is also used to determine lost investment income on the maintenance of both vehicles.
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