1. Buying and Caring for a Vehicle
Chapter 23
Buying and Caring for a Vehicle

2. Goals for Ch. 23.1
Describe the process of buying a new or used car, including selection, financing, and wise buying practices.
Explain automobile leasing costs, processes, advantages, and disadvantages.
Discuss consumer protection available for new- and used-car buyers.

3. Steps in the Car-Buying Process
1. Identify Your Needs and Wants
What is the purpose?
2. Determine What You Can Afford
You can afford no more that 20% of money left after paying regular expenses.
3. Identify and Research Your Choices
Research several makes and models that meet your needs.

4. 4. Decide Whether to Buy New or Used 5. Get Credit Pre-Approval
Discuss pros and cons for each.
5. Get Credit Pre-Approval
Find out how much money you will be qualified to borrow before visiting dealers.
6. Search for Available Vehicles
Newspapers, Internet

5. Test Drive Each Vehicle Check the History of a Used Vehicle
Never buy a car without a test drive.
Check the History of a Used Vehicle
Find the VIN number (vehicle identification number) and you can get a detailed history of the car for $15-$20
Get the Vehicle Checked Mechanically
Take it to a mechanic and have them do a full inspection on the car. ($150)

6. Determine a fair Price Negotiate the Price
Use Kelley Blue Book to determine current value.
You should never pay “sticker price” for a car.
Negotiate the Price
Do not get talked into something you do not want.

7. Negotiating Tips
Be willing to walk away if you are not satisfied with the terms of the deal.
Low-Balling – unrealistically low price offered by the dealer for the buyer’s old car as part of the new-car deal.
High-Balling – unrealistically high price offered by the dealer for the buyer’s old car as part of the new-car deal.
**Negotiate trade in and new-car price separately!!

8. Lease vs. Buy
A lease is an agreement that allows you to use the car for a specified amount of time and monthly payment.
Pros and Cons

9. Goals for Ch. 23.2
List the costs of owning and operating a car, from depreciation, gas, and taxes to the cost of accessories.
Describe methods for extending the life of your car and maintaining its resale value.

10. Cost of Operating a Car Gas and Oil Depreciation
Registration and Title
Maintenance and Repairs

11. Extending the Life of Your Car
Maintain Fluid Levels
Perform Routine Maintenance
Preserve the Exterior
Preserve the Interior