Car Buying Caveat Emptor Step One: Decide What’s Important? What do you need the car for? What qualities of the car are most important?

Slides:

Advertisements

Similar presentations

Buying, Owning & Insuring a Car Buying a Vehicle.

Advertisements

How to buy a car How to buy a car. Test drive Which type ? Which type ? SUV, Sports car, family car …… SUV, Sports car, family car …… Test drive Test.

Personal Finance Autos and You. So You Want a Car, Huh?

10 Steps. Price Shopper Best possible price Gets you from Point A to Point B Value Shopper Good Price but willing to pay for premium quality.

LEASE 1 LEASING 1. LEASE 2 Consumer Leasing Act Regulation M — consumer leases — more than 4 months — $25,000 contract or less LEASE.

BUYING AND OWNING A VEHICLE

Auto Financing 101 : Making Smart Vehicle Financing Decisions Brought to you by AWARE

Buying and Owning a Vehicle

Teens 2 lesson eight cars and loans. the costs of owning and operating a car Ownership (fixed) costs: Purchase price Sales tax Registration fee, title,

Chapter 19 Transportation. Options Mass transit= transportation systems like TANK buses Saves energy, money, pollution Pg 483 fig 19-2.

CHAPTER 23 BUYING A VEHICLE. Steps in the Car Buying Process Identify your needs and wants What do you need to do with your car? Will you drive a lot.

The Car-Buying Process Transportation. Should you buy a car?  Can you afford it? - Car payment should be no more than 20% of your take-home pay. But.

Buying a Vehicle Cost of owning a vehicle: 1.Purchase Price – Amount paid for a vehicle. It is important to shop around and compare prices. 2.Depreciation.

What are the pros and cons of owning a vehicle? Pros Cons.

Buying a Vehicle Cost of owning a vehicle: 1.Purchase Price – Amount paid for a vehicle 2.Depreciation - decrease in value over time 3.Financing - how.

COSTS OF BUYING A CAR PART 1 (IN THE FUTURE) Because you will likely need/want to drive places.

Game of Life. Making the right choice  Before you begin decide how much you can afford to spend  Decide which car models and options interest you 

BUYING AND OWNING A VEHICLE

Buying a Car Managing Your Financial Future. Steps in the Car Buying Process 1. Identify your needs and wants What do you need to do with your car? Will.

BUYING A CAR AND INSURING IT. WHAT IS THE DIFFERENCE BETWEEN... Type of Car You Want Type of Car You Need Type of Car you Can Afford.

Purchasing a Car: Lesson 1 Coach Markus. Essential Questions 1. Should I buy a new car or a used car? 2. Where can I find the best car loan to finance.

Personal Finance Objective 6.02-B Students will understand options and practices for meeting transportation needs B “Choosing the Right Vehicle”

Cars!. Consumer A person who buys a good or service from a seller.

Buying a Car: The Need to Know Doug Martin, Taylor Meyer, and Matt Spanovich March 6, 2012.

8 | 1 Chapter 4: Consumer Purchasing Section 4.1 Consumer Purchasing  Today’s Agenda: 1.What influences your buying decisions? 2.Examine a research-based.

 Complete review questions 1-13  Take out everything you have done so far for your Budget Project and have it on your desk. › I’m coming around to check.

CAR BUYING. 90% of people in our culture purchase things they can’t afford. To impress people they do not like. Don’t be one of them! Especially when.

Transportation and Buying A Car CONSUMER ED. Overview  Transportation is considered a basic need.  Get to work, get to school, go shopping, etc.  Depending.

Chapter 16 Part I. Laws of Ownership There are laws from different sources to protect buyers and sellers Vehicles are considered “goods” The “Uniform.

Partial lesson 15 of 39 slides Since most first time buyers purchase pre-owned cars, we’ll consider used cars first... Buying a New / Used Car.

Chapters 8,9,10,11, and 13 Shyla Johnson. Chapter 8 Determining Affordability Never buy from the first car shop always check a couple different car shops.

Auto Insurance Financial Responsibility Law Do you have to have insurance? Why? What kind? 2 Major Types of Coverage Property (Comprehensive and Collision)

Buying a Car. Important Car Buying Trade-Offs The smaller the engine, the less gas it burns Give up better acceleration and power Newer Automobiles Cost.

Buying a car Tips to remember. Buying a Used Car  Step 1: Starting out -- Why buy used?  Get a car that is as a good as a new, without the depreciation.

The Loan Welcome! So you’re looking to finance a car? Before you look at taking out loans make sure that you are financially able to pay for a vehicle.

Chapter 16. Buying/Owning a Vehicle What are some questions you should ask yourself before buying a vehicle? What type is best for me? Operating expenses?

Cerbone Unit Eight cars and loans. the costs of owning and operating a car Ownership (fixed) costs: Purchase price Sales tax Registration fee, title,

 Safety  Insurance Institute for Highway Safety  Price  Edmunds, Kelly Blue Book, NADA,  Carfax  All cars have a VIN (Vehicle Identification Number)

Buying and Caring for a Vehicle

© South-Western Educational Publishing Chapter 23 Buying and Caring for a Vehicle Buying a Vehicle Maintaining Your Vehicle.

LESSON 5 Buying a Car. Terms Review APR Coupe Collision Insurance Lease Liability Insurance Loan Minivan No-Fault Auto Insurance Sedan SUV (Sports Utility.

Chapter 12.  Transportation and Society  When Do You Use Transportation?  Local, State, and Federal Transportation Offices  Transportation Options.

Buying VS Leasing By Ms. Kritikos Kia Sorento EX 3.5L V6 A/T 4x4.

Buying a Car. Objectives  Students will:  be able to find a car that fits your needs.  be able to decide whether a new or used car is right for you.

What to know? How much can you spend every month? What are Benefits to new, used & leases? Should I Buy or lease? Do I have a Down payment or Trade-In?

Car Shopping. Costs of Owning a Car Depreciation Interest on loan Insurance Registration fees, license, taxes Gas Oil/fluids Tires Maintenance and repairs.

Transportation Chapter 12. Transportation Local, state, and federal transportation offices Individual transportation –Bicycles –In-line skates –Motorcycles.

The Cost of Car Ownership. Annual Cost to Own a Car Source: The following.

Put Yourself in the Driver’s Seat Researching Car Costs Put Yourself in the Driver’s Seat Researching Car Costs Use limitations: These materials may be.

BUYING & LEASING A CAR Unit Two—Budgeting Standard 4 Financial Literacy Mrs. Morrey.

LINKS 2/17/16.  Read through the Car Advertisements and answer the question…  Which did you choose and why?

© South-Western Educational Publishing Chapter 23 Buying and Caring for a Vehicle  Buying a Vehicle  Maintaining Your Vehicle.

Buying a Car and Insuring It. What is the Difference Between... Type of Car You Want Type of Car You Need Type of Car you Can Afford.

Key Terms Section 12.1 & 12.2  Do cars represent a fixed or flexible expense to their owners? *Carpool *Odometer *Feature *Options Question to think about!

PURCHASING A VEHICLE Chapter 16. Car Buying Terms ■Invoice Price – the manufacturer’s initial charge (including delivery) to the dealer; usually higher.

CHAPTER 28 – CARS AND THE CONSUMER. BUYING A CAR  When you shop for a car, you should consider:  Safety  Price  Quality  Warranty  Fuel economy.

CLP: How to Choose a Car. Can you Afford a Car? As a general rule, you can afford a car loan of no more than 20% of your take-home pay An average new.

CH 12, 12.3 To Buy or Lease?. FACT: More than 80% of people finance their car purchase. Advantages of financing through a dealership? convenience low.

Selling & Buying a Car.

Buying and Owning a Vehicle

Money Management.

BUYING AND OWNING A VEHICLE

Buying and Owning a Vehicle

Buying a Vehicle.

Buying a Car Personal Finance.

Would you survive financially in the real world?

What are transportation options in your community?

BUYING AND OWNING A VEHICLE

CAR BUYING PROCESS PERSONAL FINANCE.

lesson 17.1 BUYING A VEHICLE

Presentation transcript:

Car Buying Caveat Emptor

Step One: Decide What’s Important? What do you need the car for? What qualities of the car are most important?

What kind of vehicle do you want to buy? Ask yourself What will I use the vehicle for? Towing anything? Driving passengers around? Need a lot of cargo room? How many miles will I be driving? How long will I have the vehicle?

Options engine size transmission interior safety features special electronics convenience packages some much more

Vehicle Size is Important Sub-compact cars very gas efficient less operating costs less protection in a collision do you travel alone?

Compact Cars gas efficient easy to maneuver room for others little protection in a collision some cargo room

Medium Size Car room for 4 or more good gas mileage midsize cargo area many choices

Full Size Car comfortable ride large trunk Up to 5 passengers poor gas economy high operating costs lot of protection in a collision

SUVs and Pickups large cargo area carries many passengers poor gas economy high operating costs lot of protection in a collision

New or Used List as many advantages and disadvantages you can think of for buying a new car. Do the same for a used car

Basic Transportation How much car can you buy?

How much car can you really buy?

Budget Questions Decide how much you can afford to pay each month. (15%-20% of take home pay) How much of a down payment do you have?

Buy vs. Lease Buy: Finance entire amount of auto. Own car after meeting loan terms. Lease: Finance purchase price less residual value. Lesser owns car after expiration of lease.

$$$$$$$$$$$$$$$$$$$$$$$$$$ Purchase Price $ 30, Down Payment 3, Finance Amount $27, (Interest Rate 5%) Monthly Payments $566.14

Just to Get Started. Down Payment $3, Sales Tax 2, Basic Registration Gov’t Services Tax Supplemental Gov’t Services Tax First Month’s Payment Total $6,349.14

Let’s Keep Going First Year of Ownership. First Month $6, Monthly Payments 6, Year Min. Insurance 1, Oil Changes Gas 1, Total $15,496.68

The shopping is not over! Shop for the best financing Zero Down Low APR Delayed Payments Rebates

The Test Drive If the owner of the car refuses to let you test drive, look for another car.

Test-drive the car/model you want Plan to drive many cars in the same day Don’t bring anybody who will distract you Do not bring your checkbook, your pick slip, or even your trade Plan your route, preferably near your home Bring a knowledgeable person you trust

Have the car inspected? Bring to a mechanic you know and trust. For a fee, they will check the car over for any obvious problems.

What About the Test-Drive? How Does the Car Feel Getting In and Getting Out? How Is My Visibility? How Does the Car Ride, Accelerate, Brake and Handle? Hear Any Noises? Any Lights on? Signs of a Collision? Everything Work?

Plan the purchase Decide on the price you want to pay Make sure you want the car you are buying

Negotiate the purchase Be Prepared Select the Car to Buy Test Drive Again Set Your Price Set the Value of Your Trade Factor in Your Down payment and Rebate Check on Dealer Financing

Be Sure To Get any and everything you agreed upon in writing!

Complete the sale Set price Agree on the value of the trade Finalize financing Extended warranty?

What to do next Don’t park anywhere near others cars

Or maybe get it washed