2. Leslie and Steve want to buy the new minivan shown below. They have negotiated a...
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2. Leslie and Steve want to buy the new minivan shown below. They have negotiated a discount of $3500.00 with the dealership. They want to include the following options: cruise control ($800), CD player ($250), and power remote side mirrors ($275). The additional costs they will have to pay are: Freight Air conditioner tax Extended warranty Licence fees Administration fee all new $860.00 100.00 950.00 80.00 65.00 GetAround T500 No money down! No first payment! No second payment! starting from $24, 595 Or 0.9% Purchase financing for 36 months. Applicable taxes PST 8% GST 5% Leslie and Steve will make a $7500 down payment and finance the difference through the dealership. The financing terms are given in the ad, and the finance fee is $50. Complete the following vehicle purchase agreement for Leslie and Steve. Show all your calculations. Manufacturer's suggested retail price (MSRP) Optional extras MSRP plus Optional extras Discount/savings Agreed purchase price Trade-in description Lien disclosure Amount of outstanding liens Vehicle Purchase Agreement Financing information Finance fee Amount financed Interest rate Term Monthly payment Remarks Agreed purchase price Freight Tire tax Air conditioner tax Fuel consumption tax Administration fee Extended warranty Rust proofing, paint/fabric protection Subtotal Trade-in allowance Subtotal less Trade-in allowance PST GST Licence fees Gas fee Payout on liens against trade-in Total purchase price Cash back/rebate Down payment Finance fee (loan or lease) Amount due on delivery 2. Leslie and Steve want to buy the new minivan shown below. They have negotiated a discount of $3500.00 with the dealership. They want to include the following options: cruise control ($800), CD player ($250), and power remote side mirrors ($275). The additional costs they will have to pay are: Freight Air conditioner tax Extended warranty Licence fees Administration fee all new $860.00 100.00 950.00 80.00 65.00 GetAround T500 No money down! No first payment! No second payment! starting from $24, 595 Or 0.9% Purchase financing for 36 months. Applicable taxes PST 8% GST 5% Leslie and Steve will make a $7500 down payment and finance the difference through the dealership. The financing terms are given in the ad, and the finance fee is $50. Complete the following vehicle purchase agreement for Leslie and Steve. Show all your calculations. Manufacturer's suggested retail price (MSRP) Optional extras MSRP plus Optional extras Discount/savings Agreed purchase price Trade-in description Lien disclosure Amount of outstanding liens Vehicle Purchase Agreement Financing information Finance fee Amount financed Interest rate Term Monthly payment Remarks Agreed purchase price Freight Tire tax Air conditioner tax Fuel consumption tax Administration fee Extended warranty Rust proofing, paint/fabric protection Subtotal Trade-in allowance Subtotal less Trade-in allowance PST GST Licence fees Gas fee Payout on liens against trade-in Total purchase price Cash back/rebate Down payment Finance fee (loan or lease) Amount due on delivery
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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