1 / 8

Owning a Vehicle

Owning a Vehicle. December 12, 2011. Agenda . Steps in the car-buying process Costs associated with owning a vehicle Operating Costs- Variable, Ownership Costs – Fixed Wheel and Deal Exercise . Steps in the Car-Buying Process . Identify your needs and Wants

easter
Download Presentation

Owning a Vehicle

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Owning a Vehicle December 12, 2011

  2. Agenda • Steps in the car-buying process • Costs associated with owning a vehicle • Operating Costs- Variable, Ownership Costs – Fixed • Wheel and Deal Exercise

  3. Steps in the Car-Buying Process • Identify your needs and Wants • Determine what you can afford • No more than 20 % of the money you have left over after paying for all your regular monthly expenses • Identify and research your choices • Decide New or Used? • Loan? • Search for available vehicles for sale • Online • Dealerships • For Sale By Owner

  4. Steps in the Car-Buying Process • Test drive each vehicle • Check the history of the vehicle • VIN -Vehicle Identification number • Carfax.com • Determine a Fair Price • Kelley Blue Book – www.kbb.com • Sticker price- MSRP (Manufacturer’s suggested retail price) • Negotiate the Price • Low-Balling • High-Balling • Dealer Add-ons

  5. costs of owning and operating a motor vehicle ownership (fixed) costs: • Depreciation (based on purchase price) • Interest on loan (if buying on credit) • Insurance • Registration fee, license, taxes operating (variable) costs: • Gasoline • Oil and other fluids • Tires • Maintenance and repairs • Parking and tolls

  6. Consumer Protection for car buyers • Lemon Laws • A LEMON is a car with substantial defects that the manufacturer has been unable to fix after repeated attempts. If you have a lemon in the first year of ownership (or within 12,000 miles) lemon laws allow you to get a new car or your money back • The FTC Used-Car Rule • The federal trade commission requires that a dealer place a sticker, called the “Buyer’s Guide”, on all used cars they offer. If the “As Is” box is checked, the buyer must pay all repair costs. If the “warranty” box is checked, the dealer will pay to repair the items listed under warranty for the specified period of time.

  7. costs of owning and operating a motor vehicle • Maintenance and Repair • Insurance • Gasoline and Oil • Registration and Title • Accessories

  8. Wheel and Deal • http://www.consumerjungle.org/games/wheel-and-deal

More Related