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11 - Maths and Driving: Car loans

Research 1

Some websites leave out mathematical information they don't want you to think about.

Use the ANZ repayments calculator to investigate borrowing $20 000 for a car
Monthly repayments
a)  How much would your monthly minimum repayments be if you borrow the money over 3 years? 
b) If you made (12 x 3) 36 monthly minimum repayments how much would your $20 000 loan cost? 
c) Why doesn't the ANZ provide a calculator for you to work this out easily? 
Weekly repayments
c) What would your weekly minimum repayments be if you borrow the money over 3 years? 
d) If you made (52 x 3) 156 minimum weekly repayments how much would your $20 000 loan cost?
e) Why doesn't the ANZ provide a calculator for you to work this out easily? 

Monthly v Weekly repayments
f) Would you choose monthly or weekly repayments? How much would you save?

Research 2

Some websites give you biased information; they only tell you what they want you to know (not what you NEED to know).
Use the CBA webpage to answer these questions
Unsecured fixed rate personal loan
a) What does CBA say are the benefits of an unsecured fixed rate personal loan? 
b) Think for yourself : what might be the disadvantages of an unsecured fixed rate personal loan? 
Unsecured variable rate personal loan
c) What does CBA say are the benefits of an unsecured variable rate personal loan? 
d) Think for yourself : what might be the disadvantages of an unsecured variable rate personal loan? 
Secured personal loan
e) What does CBA say are the benefits of a secured personal loan? 
f) Think for yourself : what might be the disadvantages of a secured personal loan?