Driver Ed. Project: Option 2 – Buying a Used Car
The Cost of Owning and Maintaining A Vehicle For One Year
The maximum amount of money you can spend on this project is $10,000

Step 1: First you must purchase a car. Look in newspaper ads, on the internet, car sales books,
car dealership web-sites, etc. You must include the sales ad to verify your purchase.

Step 2: You must determine the cost for insurance:
The Insurance Information Institute estimates that adding a teenage driver to your
insurance policy will increase your premium by 50 to 100 percent. As a general rule, to add
your teenage daughter, you can expect your coverage to increase 50%. To add your teenage
son, you can expect your coverage to increase 100%.
a) Find out the cost of your parents’ car insurance.
b) If you are a female, increase the cost by 50%. If you are a male, increase the cost by
100%.
c) Include this dollar amount to the total expenses.

Step 3: Next you need to include the Title Fee and Registration Fee for the “car” you purchased
(2 separate prices). This information can be found in the manual and at www.njmvc.gov .

Step 4: Calculate cost of 3 oil changes for the year. Include ad or quote to verify expense.

Step 5: Calculate the cost of 6 car washes for the year. Include ad or quote to verify expense.

Step 6: Calculate the amount of money needed for gas mileage for 10,000 miles (determine
number of miles/gallon your car gets and cost of gas/gallon). Include calculations to verify your
expenses. This can be done manually or at www.fueleconomy.gov.

Step 7: Calculate at least one upgrade you wish to purchase for your car (stereo, tire rims, new
paint, window tints, GPS System. . . ). Include quote to verify expense.

Step 8: Organize your work (see example on back) and include all receipts.
ALL PROJECTS ARE DUE TUESDAY, NOVEMBER 10th
PROJECTS WILL NOT BE ACCEPTED AFTER THURSDAY, NOVEMBER 12th
Projects are worth 10% of the marking period grade. Project summary must be typed.
All quotes, receipts, and spending verifications must be stapled to summary page.
10 points will be deducted each day the project is late.
Summary Page Sample: (numbers not real quotes)
Name: John Doe
Type of car purchased: 2005 Honda Accord 4 door
Cost of car
$
Insurance
$
Title fee
$
Registration fee
$
Oil change X 3
$
Car Wash
$
Gas for 1 year
$
Upgrade
$
Total cost for 1 year
$
Calculations for gas expense:
Show math here or include printout from fueleconomy.gov