Car Buying Comparison Template =LINK=
Buying a new or used car always comes with a lot of questions. Is buying a different car worth it? Is a used car or a new car a better deal financially? How do I know if I can afford a different car?This car calculator spreadsheet helps answer these questions so you can have more confidence in your decision to purchase, or not purchase, a car. This spreadsheet lets you compare multiple vehicles. Enter the price, mileage, loan info and repair costs to estimate the overall cost and monthly upkeep.
car buying comparison template
This spreadsheet was designed to make it easy to do side-by-side comparisons between multiple cars, including your current one, with the main decision factor being the estimated monthly cost of ownership. Some of the questions to consider are:
Should I buy a car or just keep my current one? Some of the main factors affecting this type of decision (besides just wanting a new look) may include gas mileage, maintenance costs, and the cost of financing. Another more subjective consideration has to do with reliability, or how long you expect the car to last. You may feel forced to get a new car to fit your growing family, but comparing the cost of your current vehicle may still be important because you tend to know a lot more about the expenses of your current vehicle, which may help you have a benchmark for comparison. If you want to calculate the specifics of the auto loan that would come with the purchase of a car, check out our Auto Loan Calculator.
Should I buy or lease a car? Although leasing a car is typically more expensive than buying used and sometimes more expensive than buying new, comparing the cost of leasing a car can provide a useful benchmark. Leasing a car is typically a short term solution, and may have other drawbacks such as mileage restrictions, hidden fees, or contract length (penalties for terminating the contract early for example).
Should I buy a new or used car?If you can find a good used car, then it will almost always be a better financial decision (lower monthly and total costs) to get the used car. Although this spreadsheet does not show the effect of buying new vs. used over a 10-30 year period, the total purchase cost and total financing cost over the long term will usually be much higher for a brand new vehicle. If you are thinking of buying new, don't underestimate the maintenance costs. If you can avoid buying a lemon, you may get by for a few years with just the routine maintenance costs, but it won't be long before you need new tires, new brakes, etc. A resource that may be helpful long term is our Vehicle Maintenance Log where you can keep track of your vehicles' maintenance to refer back to when needed.
A cost comparison template helps you analyze different options side by side and maximize your budget. Not only does it save you time and money, but it can also boost your confidence when it comes to purchasing decisions.
A grocery cost comparison worksheet is helpful for money-savvy shoppers who want to find the best deals on food and other household items. This type of template can help you compare the cost of groceries from different stores, or compare the same type of product offered at different prices.
A travel price comparison template can help you find the best deals on airfare, hotels, and car rentals. This type of template is handy for business travelers or vacationers who want to get the most bang for their buck.
On monday.com Work OS, you can connect your cost comparison board and sync data to and from your budget to make more educated purchasing decisions. That way, you can know if you need to go for the cheapest option or if you can opt for convenience, like a local supplier.
One of the best ways to use our price comparison template is to track cost data over time. By doing this, you can spot trends and get an idea of how prices fluctuate. This information can help you predict when prices are likely to go up or down and make smarter purchasing decisions.
Not every task in your cost comparison process needs manual input. With the power of automation, you can save time and energy by letting a platform like monday.com Work OS handle routine or mundane administrative tasks like:
If you want to skip straight to step three and let the spreadsheet calculate comparisons itself, you can use our cost comparison template. If you prefer to work with Excel, you can even export it as a fully functioning XLS file.
Downpayment for buying a new car can range from a few hundred to a few thousand dollars, depending upon the make and model of the car, your credit history, the time of the year and how well you negotiate. In general, downpayment is higher when buying than when leasing. Downpayments are usually negotiable when leasing a car and many dealers waive it entirely if you negotiate well.
Monthly payments are higher when buying a car because interest is calculated on the entire purchase price (minus the downpayment). The monthly payments for leased cars are lower in comparison. This is because when you lease a car, the leasing company expects you to pay not the full value of the car but only for the value that the car loses during the lease. For example, say you are leasing a new car worth $25,000 for 3 years. At the end of the lease, the expected value of the car is $16,000. So the leasing company would expect you to pay the difference i.e. $9,000 (plus some fees) over the 3 year term of the lease. This works out to a much lower monthly payment than financing a $25,000 new car.
The bottom line is that leasing has lower monthly costs so it frees up some cash for you to invest or use elsewhere every month. If you have other investment avenues such as stocks or bonds, you can invest this free cash to earn a return that offsets some of the leasing costs. But over the longer term, buying helps you build equity in the car that you can recoup when you sell. With leasing, all your payments are expenses never to be recouped. The longer the lease, the more unprofitable it is compared to buying.
Not all deals are equal. So it's not possible to make a generic assertion about whether cost-wise leasing is better than buying or vice versa. A lot depends upon the specific lease terms. This online calculator can help compare the lease vs. buy options available to you.
If you like having new cars every 2-3 years, leasing is a better option because there is time and effort involved in buying and selling cars. With leases, it is a relatively hassle-free process because you return the car when the lease is up. There is no negotiation involved for selling it.
If you are interested in finding an insurance agent in your area, click on the "Find An Insurance Agent" link at any time to go to that search tool. If you are interested in finding an agent that represents a specific company, you can also click on the company name in the premium comparison which will link you to that company's website.
AHP stands for analytic hierarchy process and belongs to the multi-criteria decision-making methods (MCDM). In AHP, values like price, weight, or area, or even subjective opinions such as feelings, preferences, or satisfaction, can be translated into measurable numeric relations. The core of AHP is the comparison of pairs instead of sorting (ranking), voting (e.g. assigning points) or the free assignment of priorities.Teachers and users of the AHP know that the best way to understand it is to work through an example. The example below shows how a broad range of considerations can be managed through the use of the analytic hierarchy process.The decision at hand requires a reasonably complex hierarchy to describe. It involves factors from the tangible and precisely measurable (purchase price, passenger capacity, cargo capacity), through the tangible but difficult to measure (maintenance costs, fuel costs, resale value) to the intangible and totally subjective (style).( -introduction)
In an AHP hierarchy for a family buying a vehicle, the goal might be to choose the best car for the Jones family. The family might decide to consider cost, safety, style, and capacity as the criteria for making their decision. They might subdivide the cost criterion into purchase price, fuel costs, maintenance costs, and resale value. They might separate Capacity into cargo capacity and passenger capacity. The family, which for personal reasons always buys Hondas, might decide to consider as alternatives the Accord Sedan, Accord Hybrid Sedan, Pilot SUV, CR-V SUV, Element SUV, and Odyssey Minivan.
Also note that the structure of the vehicle-buying hierarchy might be different for other families (ones who don't limit themselves to Hondas, or who care nothing about style, or who drive less than 5,000 miles (8,000 km) a year, etc.). It would definitely be different for a 25-year-old playboy who doesn't care how much his cars cost, knows he will never wreck one, and is intensely interested in speed, handling, and the numerous aspects of style.[1]
Things change a bit when we get to the alternatives row. Here, the cars in each group of alternatives are compared pair-by-pair with respect to the covering criterion of the group, which is the node directly above them in the hierarchy. What we are doing here is evaluating the models under consideration with respect to Purchase Price, then with respect to fuel costs, then maintenance costs, resale value, safety, style, cargo capacity, and passenger capacity. Because there are six cars in the group of alternatives, there will be fifteen comparisons for each of the eight covering criteria.
When the pairwise comparisons are as numerous as those in our example, specialized AHP software can help in making them quickly and efficiently. We will assume that the Jones family has access to such software, and that it allows the opinions of various family members to be combined into an overall opinion for the group.
The family's first pairwise comparison is cost vs. safety. They need to decide which of these is more important in choosing the best car for them all. This can be a difficult decision. On the one hand, "You can't put a price on safety. Nothing is more important than the life of a family member." But on the other hand, the family has a limited amount of money to spend, no member has ever had a major accident, and Hondas are known as very safe cars. In spite of the difficulty in comparing money to potential injury or death, the Jones family needs to determine its judgment about cost vs. safety in the car they are about to buy. They have to say which criterion is more important to them in reaching their goal, and how much more important it is (to them) than the other one. In making this judgment, they should remember that since the AHP is a flexible process, they can change their judgment later on. 041b061a72