Buying and Caring for a Vehicle

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Chapter 23

• Buying and Caring for a Vehicle

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Objectives for Chapter

• Describe the process of buying a car
• Explain advantages and disadvantages of leasing
• Discuss Hybrid Cars
• Maintaining You Car

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Steps in the Car-Buying Process

• Step 1
• Identify your needs and wants
• What do you need to do with your car?
• Will you drive a lot of miles? (gas mileage)
• Do you plan to haul a lot of material or people?
• Do you plan to take the car off road?

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Steps in the Car-Buying Process cont.

• Step 2
• Determine what you can afford, before going to a
  car lot.
• Step 3
• Do research before buyingyour car
• Consumer Reports and Car and Driver magazines are
  good resources

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Steps in the Car-Buying Process cont.

• Step 4
• Decide whether to buy New or Used??
• Step 5
• Get Credit Pre-Approval
• Find out how much money you will qualify for
  before visiting car dealerships.

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Some Helpful Tips

• Test drive each vehicle before you buy it
• If purchasing a used car check the history
• Vehicle Identification number (VIN)
• Car Fax
• Have the vehicle check by an experienced mechanic

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Purchasing the Car

• Determine a fair price.
• Should you always pay the sticker price on
  the car?
• Here are some helpful hints
• Check Kelley Blue Book

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According to AAA

• What do dealers pay??
• 90 of sticker price for compact and subcompact
  cars
• 84 to 87 for luxury vehicles

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Leasing

• Advantages
• You can get a new car every two to three years
• You can lease a nicer more expensive car than you
  would actually be able to purchase
• If you are using it for business you can write
  off part of the expenses
• Disadvantage
• You do not own the car

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Financing Your Car

• The best way to purchase a car is with cash.
• Unfortunately most people cannot do that
  therefore they need to take out a loan.
• Loans can be for 36, 48, 60, or 72 months. The
  longer you have the loan the more money you are
  paying in interest.

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Hybrid Cars

• What are Hybrid Cars?
• A type of vehicle that uses alternate energy
  sources, such as natural gas or battery power, in
  addition to or in place of gasoline.
• Are they really better for the environment??
• Article

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Maintaining Your Vehicle

• Most people spend more of their income on a car
  and related expenses than on any other item
  except housing and food.
• What is involved in maintaining your vehicle??