Essay about Why Cars Are Essential in Today's World
Submitted By Timothy19
Words: 1148
Pages: 5
Beyond the Monthly Payment – Student Activity
|Name |Beyond the Monthly Payment – SA1000A2 |
|Prerequisites |Lesson 1 – Automobile Basics |
|Estimated Time |1 to 1½ hours |
|Activity Resources |Vehicle Expenses Worksheet |
|Objectives |Clarify and reinforce the fact that the total cost of owning and operating a vehicle |
| |includes more than the monthly payment |
| |Introduce the students to the fixed and variable costs of owning and operating a vehicle |
| |Give the students practice at estimating how much their fixed and variable costs will be |
| |annually |
In the United States, we love our vehicles and rightly so because we are a very fluid society. About 220 million Americans spend 1 to 2 hours each day in their vehicles. A recent Gallup poll indicates that 85% of workers drive to work by themselves, 6% ride with another person, 3% walk, 4% take public transportation and 2% do something else to get to work. The average drive to work is 16 miles and takes about 26 minutes each way. These statistics seem to support the idea held by many that a car is an essential part of being able to function in our society.
The biggest mistake first time vehicle owners make is concentrating on getting the loan and being able to make the monthly payments but neglecting the other costs associated owning the vehicle. Trust me, there are other costs associated with owning and operating a vehicle and many times they can equal or exceed the monthly payment amount.
There are two types of expenses related to automobile use – Variable Costs (also called Operating Costs) and Fixed Costs (also called Ownership Costs). Variable Costs are named as such since they vary depending on how much you use your vehicle. The more you drive, the more often you have to get new tires, buy gasoline, change your oil and have the vehicle serviced. Fixed Costs can also change, but they do not typically change based on how much you use the vehicle. Fixed costs include items such as auto insurance, vehicle tags and monthly payments, but for this activity, fixed costs will not include the monthly payment.
1. List all Fixed and Variable Costs you can think of that are associated with having a car. Feel free to discuss this with your parents, older siblings or other adult friends as most of them will have experienced both fixed and variable vehicle costs.
Despite the name, Fixed Costs are not the same from person to person or vehicle to vehicle. They are fixed for a given car and owner as long as nothing related to their calculations changes. For example, your monthly payment won’t go up or down, but if you’re involved in an accident, your insurance costs may go up and insurance is typically one of the largest fixed costs for young people.
You can control some of your Fixed Costs by choosing what types and levels of insurance you carry on the vehicle. Most lenders will require you to have collision insurance because the vehicle is the collateral for the loan and the lender wants to protect their investment in your vehicle. Most states require Bodily Injury and Property Damage liability insurance for all vehicles. Some may require you to have comprehensive coverage as well. Increasing the deductible amount for your insurance will lower your fixed costs, but can also increase them if you have an accident because you will have to
Related Documents: Essay about Why Cars Are Essential in Today's World
pocket when someone asks me for spare change or a couple of dollars to get something to eat. I believe in helping out our fellow man and to try and make this world a better place, but am also a realist and understand that someone like me, as one individual can only do so much toward that goal. Having said that, when I read "The Singer Solution To World Poverty", written by Peter Singer, I found it hard to agree with his views and how we are "failing to live a morally decent life." Singer points out our…
which is explained by design, story, symphony, empathy, play, and meaning respectively. A Whole New Mind explains two approaches to thinking, and clarifies why one is superior to the other particularly in contemporary times. The following paragraphs in this book review will summarily describes Pinks' notion of a left and right brain, and why he is an advocate of right-brain thinking. For Pink, there are a variety of people such as creators, pattern recognizers, meaning makers, artists, big picture…
live meaningful lives. Thoreau’s ideas, expressed in “Why I Went to the Woods,” still appeal greatly to today’s audience and society, because in this day many loose their track in finding a true purpose, and just survive through mindless living in an artificial world. People today, live in a world full of possibilities others created for them, which keep them away from seeing a path to follow in their own survival through a complicated world. Thoreau saw the brick wall on a path to self-purification…
several norms. The following are ways how cgi films where impacted by past cgi creations. When cgi was first used it was not used to completely make movies out of it like how it is now a days. It started out with smaller things like small effects, cars or scenery. The first actual face or made with cgi animation was in 1974 in the university of Utah , the rapid advancement of computer processing power is primarily what served as a catalyst for the explosion of CGI animation(Dube 30),and it was just…
thinks sitting in church can make you a Christian must also think sitting in a garage can make you a car”. Often, people claim a religion without actually going by the worship and living up to the expectations that follows. It is very essential that people take their belief seriously and abide by the rules that follow the denomination. In spite of all the difference religions in the world; they have very similar practices, which should encourage more mutual respect among them. Religion is…
actual “teenagers”. Post World War ll brought a baby boom that led to a mass amount of young people in the fifties. The youth culture was a significant social change that was taking place in America. The fifties youth culture had a considerable influence over pop culture. Their behavior, interests, and ideas were distinct from their parents. “Their attempts to forge an identity worried adults, who couldn't understand the shift (Shmoop Editorial Team).” The fifties were essential to youth culture because…
In today’s world with credit cards and debt The expression that comes to mind “Keeping up with the Joneses” is a very common quote that we have all heard of. Suze Orman who is full of knowledge with credit card debt and helpful with budget and wise spending, uses a lot of narrative descriptions in her writing,blunt and also broke it down in layman term how to take control of your credit cards. The average household debt an outstanding more than billion dollars as of 2011 projection; this…
tools and techniques practised across the various companies, belonging to information technology industry across the globe. Firstly, the report overviews the concept of importance of employee motivation to an organisation and studies the idea of why motivated employees are better performers than the average employees, and how the organisation in turn benefits from its employee benefit programs and facilities given to the employees to keep them motivated to work for the organisation. Secondly, the…
foundation — namely, consumerism. For societies that are built upon consumption, change is an essential component. Intentional obsolescence, the need for markets to be constantly reinventing products, the voracious appetites of us all for the new and the novel — these are the things driving the culture of rapid change. If it were not so, we would all only ever need to buy one television, one dishwasher, one car, have one smart suit, and so on. In fact, however, our dishwashers break down every five to…
School of English and Languages Pre-sessional Programme ESSAY COVERSHEET Title: Why do most entrepreneurs fail during start-up? Name: Purinat THANAPHAISANPHIPHAT Tutor: Paula de Pando Word Count: 1833 Class: PS12PdP Owning your own business is a desirable alternative choice because of the unpredictable world economics trends. Global economy substantially fluctuates from USA and many European countries having recession in the last decade. Many fulltime workers lost their jobs and the situation…