1 / 4

Excel Activity #2

Excel Activity #2. Car Leasing or Buying. Terms.

glenys
Download Presentation

Excel Activity #2

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. Excel Activity #2 Car Leasing or Buying

  2. Terms • List Price, Recommended Retail Price (RRP), or Retail Price or Manufacturers Suggested Retail Price (MSRP)-  price which the manufacturer recommends that the retailer sell the product. The intention was to help to standardize prices among locations.Takes into account advertisement, packaging, distribution, and other business costs. • Amortization - The paying off of debt with a fixed repayment schedule in regular installments over a period of time.

  3. Terms, cont. • Leasing -Dealerships offer a car for a fixed period of time at an agreed amount of money for the lease. • Lease without purchase, dealership allows customer to lease the car for a specified period of time, usually 2, 3, or 4 years. At the end of this time the customer returns the car. • lease with the possibility of purchase, dealership allows customer to lease the car for a specified period of time, usually 2, 3, or 4 years. If all the rental payments are made in full, the customer will then be allowed to buy the car at the contractual purchase option price.

  4. Terms, cont. • Borrow to Own –  Using a third party to pay for the car you are purchasing. Financing is arranged either by the dealer which provides the car, by independent finance brokers who work on commission, or you can pre-qualify with your bank or credit union before car shopping. Interest rate, payment amount, time of the loan will be fixed. • Resale Value - The trade value of a good that has already been purchased. 

More Related