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We learnt more about deeper and complicated arthmetic concepts, like choosing loan package, raodtax,insurance and so on.

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Information Given:
- has a family
- he can spend a maximum of $940 per month on his car
- has $50K in his bank
-car loan from financial institution

Factors to consider:
- COE
- Car maintenance
- car loan
-road tax
- petrol costs
-Parking fees
-ERP
- seating capacity of the car
- car insurance
- financial status and loan elegibility
- various car options
- various insurance and bank options
- maximum loan tenor

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He already has a driving license so we assume that he does not need to spend money to pay for the driving test and attain the new driving license

Assuming that he has 10 years of driving experience

His mother and father has a car of their own and does not need him to help bring them around in his car, therefore, his car would most preferably be a 4-5 seater car.

He does not owe the bank any money

He only wants to use half of his savings on the car ($25000)

He is interested in: Mitsubishi Attrage, Mitsubishi Space Star, Mitsubishi Lancer Ex, Suzuki Baleno

He uses Caltex Diesel with Techtron before site discount

His annual mileage is around 17,500 km which is the average annual mileage of a Singaporean with a private car.

He uses his own money to pay for fuel and road tax.

# data[].attributes.body
consider:
how much he drives
-> determines amt of petrol needed
car maintenance
taxes
insurance

# data[].attributes.body
Information given:
- The relative has a family of five people including himself but excluding his extended family members.
- The relative intends to purchase a brand new car.
- The relative only has roughly $940 each month to spend on the car and has also saved $50 000 in his bank account on standby.

Factors to be considered:
- The petrol tax.
- The road tax.
- The maintenance cost of the car.
- The parking fees.
- Electronic Road Pricing costs (ERP).
- The frequency of the relative's car usage.
- The places where the relative park.
- Insurance costs of the car.
- Given the fact that there is a total of five people when the relative, his wife and his three children are taken into consideration, the car has to be able to accommodate five people.

Assumptions made:
- The relative has a driver's license and thus can drive, not needing a chauffeur.
- The relative has a Certificate of Entitlement (COE) and hence can purchase a car.
- The relative intends for the car to be brand new.
- The relative is alright with a car powered by petrol.
- The relative is not fastidious concerning the brand or the model of the car.
- The relative's monthly expense of $940 covers the road tax, petrol tax, ERP and maintenance cost of the car but excludes insurance.
- The relative uses his car on a daily basis. This will then aid us in calculating the ERP costs.
- The $50 000 saved in the relative's bank account is not reserved by anything else and have
- The relative's children have no requirement for child booster seats.

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Definition of Problems:

- Recommend a suitable car loan for relative who wants to buy a car.

- Price of car should be within affordability of the relative.

- Relative is able to pay a downpayment of $50 000 for the car. - The price of the car should be within this downpayment amount.

- Relative is able to pay a monthly repayment of $940 a month for the loan. The monthly repayment for the loan has to be within this amount.

Assumptions:

- The relative wants a new car (instead of an old one)

- The relative wants to own the car, versus purchasing the car under special schemes like shared car ownership or other car leasing schemes

- The relative is okay with any model of car within that budget that his savings and monthly repayment can buy him. An alternative way is to find the car he likes most and calculate if he can afford the car and car loan.

- That the relative will use the maximum amount possible within his savings to pay for the car downpayment.

- That the relative will maximise the amount he is able to afford for monthly repayment.

- That the monthly amount of $940 is purely for loan repayment and excludes spending on other aspects of the car e.g. road tax, repair, petrol etc.

# data[].attributes.body
information provided:

Has a wife and 3 children

Amount of money he can spend on the car per month : $940

Saving in bank $50000

wants a brand new car

things to consider:
- cost for fuel if it is a petrol    powered engine
- the price of car if it is a hybrid car
-how much fuel or energy the car uses up per kilometre
- road taxes
-COE
-Electronic Road Pricing
-insurance for the car
- warranty
-car servicing, maintenance
- If car is damaged, how much is needed to be payed in order to repair or replace parts.
- needs to be a 5 seater car as the relative have 1 wife and 3 children and including himself, it is a total of 5 people

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there are many factors we need to consider like cost of petrol, distance the relative is going to travel etc.. which will affect the car to purchase and the loan plan

# data[].attributes.body
We need to consider the price of fuel, road tax, damage to the car, insurance, car maintainance (every 6 months or every 10000km) and other such extra money that needs to be payed when you own a car.

# data[].attributes.body
we need to consider cost of petrol.