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Page Last Updated Jan 24, 2012
Number of Visits: 150
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The following problem was made after a student of mine was telling me about his brother purchasing a Yamaha YFZ 450 4-runner.
The YFZ 450 Dilemma
Randy Sharpe recently purchased the 2007 Yamaha YFZ 450 SE pictured above. It was brand new as a result of dealer overstock and its pre-tax price was $7,450.00. The tax rate is 8%.
1) What is the final cost of his purchase?
2) Explain how you got your answer:
3) What are some ways that Randy may have been able to save some money and pay less for a YFZ450?
The following advertisement was found by Mr. Sheff on “Craigslist.” "Selling my Red and Grey 2007 Yamaha YFZ 450. Four wheeler is in excellent condition, it has never been raced/wrecked/rolled. Plastic has very minor scratches and everything else is like new. I bought the 450 and have only rode it a handful of times, it has extremely low hours/miles. It was garage kept and adult rode, I'm asking for $5300 or best offer. I'm deploying very soon so if you have any questions please contact."
Assuming that the selling price of the used YFZ450 is $5300.00 answer the following questions (SHOW ALL WORK NEATLY):
1a) How much money could Randy save by purchasing the used Yamaha?
b) Explain the process you used to determine your answer.
2a) What percent would he have saved by buying the used instead of the new Yamaha?
b) Explain in detail how you arrived at that answer.
3a) What if the Dealer told Randy he could buy the new 2007 on a credit payment plan of only $190/month for 4 years. How much would that cost by the time Randy made the last payment?
b) Is it better to by on “credit” or to save and buy when you have the money? Explain.
4) What are the pros of buying the new Yamaha? What are the pros of buying the used Yamaha?
5) Sometimes you here people talk about “wants versus needs.” What does that mean?
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