CHAPTER 5Slide 1 of 5 Chapter 5. TRANSPORTATION: BUYING, FINANCING AND INSURING YOUR CARS Getting the best deal… the best financing… the best insurance.

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Presentation transcript:

CHAPTER 5Slide 1 of 5 Chapter 5. TRANSPORTATION: BUYING, FINANCING AND INSURING YOUR CARS Getting the best deal… the best financing… the best insurance A. The Cost of Getting From Point A to Point B: Cost per mile, equipment, maintenance B. Buying a Car 1. Needs vs. Desires 2. New vs. Used 3. Shopping Criteria (See Personal Action Worksheet, text page 154) C. Games Dealers Play Your Old Car - Sell it or Trade it?

CHAPTER 5Slide 2 of 5 E. Financing: Direct or Through the Dealer? F. Leasing as an Alternative to Buying G. Warranties H. Automobile Insurance 1. Public Liability 2. Medical Payments 3. Uninsured Drivers 4. Comprehensive 5. Collision 6. What to do in case of an Accident

CHAPTER 5Slide 3 of 5 I. Car Pooling J. Car Rental Rental Car Insurance

CHAPTER 5Slide 4 of 5 TALKING POINTS… Chapter Five, Number One How would you respond to these statements by a car salesman? 1. The price I’ve offered you will be good only until noon tomorrow. 2. The price I’ve offered you is contingent on your financing the deal with us. If you finance it elsewhere, my quote will have to change. 3. I know I ballparked your trade-in as being worth $4,000, but the used car manager and the service manager say we can only offer you $1,500 for it. 4. You’ll be making a big mistake if you don’t buy the extended warranty. 5. Take my word for it - if we can’t get that clinking sound out before we deliver the car, I’ll pay to have it done myself.

CHAPTER 5Slide 5 of 5 TALKING POINTS… Chapter Five, Number Two You get rear-ended while driving to work. Your neck takes quite a jolt. How would you respond to the following statements, and what actions might you take? 1. The person who hit you says, “If there’s a claim against my insurance policy, my rates will go sky high. Let me just pay you cash for your damages. 2. The person who hit you says, “Sorry, but I don’t have any insurance.” 3. The insurance agent for the person who hit you says, “We’ll give you a cash settlement now for $5,000, plus enough to fix your car. If you don’t accept that, it could take years before this case comes to court, and you might end up with a lot less.” 4. After a few days your neck feels fine. A friend tells you that whiplash pain might not show up for months, and when it does it can be ferocious.