9.3 Purchasing a Used Vehicle 1)8900+ 550 + 250 + 100 = 2)14500 – 200 + 150 = 3)Sport truck with 42,306 miles driven on it. Average retail value is $19,600.

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Presentation transcript:

9.3 Purchasing a Used Vehicle 1) = 2)14500 – = 3)Sport truck with 42,306 miles driven on it. Average retail value is $19,600. Add $275 for 7/8 passenger seating. Add $375 for rear air conditioning. Deduct $225 for mileage. What is the average retail price? $ 20,025

9.2 Dealers Cost What are some advantages of purchasing a used car? What are some advantages of purchasing a used car? What are some disadvantages of purchasing a used vehicle? What are some disadvantages of purchasing a used vehicle?

Where do you find the average retail price of a used car? The Used Vehicle Guides are published monthly by the National Automotive Dealer Association (NADA) or through Vehicle Market Research. You can also use Kelly Blue Book (KBB) to find the suggested wholesale and retail prices.

9.3 Purchasing a Used Vehicle

Average Retail Value +Options – deductions – Mileage deduction Example 1 Open Up your books to Page 321, and find Table 9.2 at the top of the page. Jackie would like to purchase a four-year-old Palamino V8 four- door car, which is advertised for $15,450. It has no air conditioning. It had power door seats, premium sound, leather seats, and a power sunroof. It has been driven 51,760 miles. The used vehicle guide indicates that $575 should be subtracted if the mileage is from 45,001 to 52,500 miles. What average retail price should Jackie keep in mind when she makes an offer on the vehicle? $ 14,675 + $1,115 - $800 - $575 $ 14,415.00

9.3 Purchasing a Used Vehicle Complete the following on your own. Using the table on page 321, find the average retail price for a four-year old V6 four-door vehicle that has air conditioning, power seats, leather seats, manual sunroof, and aluminum wheels. It has been driven for 36,500 miles. The used-vehicle guide indicates that $525 should be added if the mileage is from 30,001 to 37,500 miles. What is the average retail price for this vehicle? Average Retail Value +Options – deductions +/- Mileage deduction $ 13,050 + $815 - $0 + $525 $ 14,390.00

9.3 Purchasing a Used Vehicle Page