Estimating Ownership Costs 1. Purchase Price  Find the average price for a particular car model using Kelley Blue Book  Also find your trade in value.

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Presentation transcript:

Estimating Ownership Costs 1. Purchase Price  Find the average price for a particular car model using Kelley Blue Book  Also find your trade in value here  Negotiate the price  Used cars usually are negotiated 5-10% below asking price 2. Finance Costs 1. Pay in full up front 2. Down payment up front; loan for remainder of cost

Estimating Ownership Costs 3. Insurance – shop around! 4. Taxes  All states require that cars be registered with the DMV and to display license plates 5. Maintenance costs  Average yearly cost for preventative maintenance (engine tune-ups, oil changes, battery replacement, etc.) will range from $650 for a small car to $2000 for a large car or SUV

Estimating Ownership Costs 6. Fuel  Usually big SUVs and pickups get mpg and sometimes require more expensive premium fuel  Small cars and hybrids deliver MPG and run on low-grade fuel  How to calculate the mpg: