This week’s assignment was a little different than the normal writing assignment. I was to find a particular car make and model that would be the most practical for me. I will cover the total cost of the car, the monthly payment I would have to make, and create an estimate of the gas, insurance, repair, and maintenance costs assuming I would drive 12,000 miles a year.<\/p>\n\n\n\n
The car I chose: The Toyota Corolla. Here’s why:<\/p>\n\n\n\n
The Toyota Corolla is one of the best-selling cars in the world, and for good reason! Corollas are known for reliability, cheap maintenance, and low price.<\/p>\n\n\n\n
Here is the total cost for a used 2006 Toyota Corolla S with 90,000 miles. (All prices are approximate!<\/strong>)<\/p>\n\n\n\n List Price: $7,995<\/strong><\/p>\n\n\n\n Tax: $480<\/strong><\/p>\n\n\n\n Registration and documentation fees: $200<\/strong><\/p>\n\n\n\n Insurance: $5,000 per year<\/strong><\/p>\n\n\n\n Gas: $500 per year<\/strong><\/p>\n\n\n\n Annual maintenance cost: $500<\/strong><\/p>\n\n\n\n Total cost for the first year: $14,675<\/strong><\/p>\n\n\n\n Cost for 2nd year and later: $6,000<\/strong><\/p>\n\n\n\n <\/p>\n\n\n\n Phew, glad that’s over! I had no idea how expensive insurance is!<\/p>\n\n\n\n Loan rate:<\/p>\n\n\n\n For a 4 year loan with a 25% down payment, and a good credit score, the loan will cost $144 per month.<\/p>\n\n\n\n Even though I won’t be driving for another 2 or 3 years, this assignment was still very helpful. I realized how expensive owning a car can be! <\/p>\n","protected":false},"excerpt":{"rendered":" Personal Finance Week 20 Assignment This week’s assignment was a little different than the normal writing assignment. I was to find a particular car make and model that would be the most practical for me. I will cover the total cost of the car, the monthly payment I would have to make, and create an […]<\/p>\n","protected":false},"author":1,"featured_media":615,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[22],"tags":[44,15,24],"class_list":["post-586","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personalfinance","tag-cars","tag-personalfinance","tag-school"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/davidjamesgarber.com\/blog\/wp-content\/uploads\/2025\/03\/pexels-photo-19581626.jpeg?fit=1880%2C1256&ssl=1","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":593,"url":"https:\/\/davidjamesgarber.com\/blog\/archives\/593","url_meta":{"origin":586,"position":0},"title":"Old Cars vs New Cars","author":"David Garber","date":"March 25, 2025","format":false,"excerpt":"Personal Finance Lesson 105 Assignment In this assignment, I'll be comparing old cars against new cars in a pro and con style essay, to decide which is better. First, we have to define what an old car is. 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I won't be able to drive for another 2 years, but it is still important to think ahead. Here are some of the things I value most in a car:\u2026","rel":"","context":"In "Personal Finance"","block_context":{"text":"Personal Finance","link":"https:\/\/davidjamesgarber.com\/blog\/archives\/category\/personalfinance"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":253,"url":"https:\/\/davidjamesgarber.com\/blog\/archives\/253","url_meta":{"origin":586,"position":2},"title":"Henry Ford","author":"David Garber","date":"January 31, 2025","format":false,"excerpt":"Personal Finance Week 14 Assignment Henry Ford was an American industrialist and inventor. He was famous for inventing the model T, the first mass-produced car. Henry Ford was born on July 30, 1863, to William and Mary Ford. He worked on the family farm as a kid. 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