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Unit 3

Vehicle. Unit 3. Reasons for Having a Vehicle. Work Pleasure Recreation Vacation School. Costs & Responsibilities of Vehicle Ownership. Gas Maintenance Insurance Title-Licensing Repairs. Places to Buy a Vehicle. Private Ownerships Vehicle Dealerships Used Car Dealerships Auction

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Unit 3

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  1. Vehicle Unit 3

  2. Reasons for Having a Vehicle • Work • Pleasure • Recreation • Vacation • School

  3. Costs & Responsibilities of Vehicle Ownership • Gas • Maintenance • Insurance • Title-Licensing • Repairs

  4. Places to Buy a Vehicle • Private Ownerships • Vehicle Dealerships • Used Car Dealerships • Auction • Junk Yard

  5. Vehicle Payment OptionsCASH • Pro • No Payments • Con • Large of amount of money is gone

  6. Vehicle Payment OptionsLoan • Pros • Immediate possession • No large cash outlay • Pay off eventually • Cons • Monthly payments • Term of payments

  7. Vehicle Payment OptionsLEASE • Pro • New car • Lower payment • Lower maintenance costs • Cons • Do not own • Fees of overages • Security deposit • Limit of 10,000 miles a year • Must return at end of term

  8. Features/Options • Safety • Reliability • Fuel Economy • Power-windows, locks, doors • Performance • 2/4 door • 2/4 wheel drive • Manual/automatic • Engine Type • Warranty • Extras-satellite radio, GPS, DVD player, MP3 player

  9. New Vehicle • Pros • Low mileage • Warranty • Not-pre-owned • Chosen accessories • Discounts on maintenance • 0% finance options • Cons • Harder to negotiate price • More expensive • More extensive credit check • Insurance is higher • Additional warranties

  10. Used Vehicle • Pros • Cheaper • Easier to negotiate price • Easier to find • Cheaper insurance • Cons • More repairs • Harder to find parts • Not as clean • No warranty • More miles • Engine reliability

  11. Inspecting a Used Car • Check exterior • Price • Miles-how many • Engine-type, condition • Body-rust, paint matches • Tires-check the treads • Brakes • Lights • Heating/ A/C

  12. Used Car Ads • PW-power windows • Htd-heated seat • PL power locks • AC air condition • AWD all wheel drive • ABS antilock brakes • PS power seats • Mi miles

  13. Vehicle Shopping Points • Know the value-Kelly Blue Book, Edmunds, Consumer Reports • Stay on the subject • Don’t be rushed • Be prepared to walk away • Be wary of costly add-ons • Check the vehicle’s history • Visit a mechanic • Come with your financing secured • End of the day and month

  14. Vehicle Financing • Down Payment-amount you give at the time of purchase. • Percentage-rates, number of payments • Amortization-how interest is calculated • Depreciation-the loss of value of vehicle

  15. Pricing • Invoice-what the dealer pays the manufacturer • Dealer-what the dealer sells it for • MSRP-Manufacturer Suggested Retail Price • Base Price-without any features or options • Book Value-Kelly Blue book price-used car prices

  16. Warranties • Implied-vehicle will work as it is suppose to • Service Contract-an item that you purchase that allows you to have items fixed by the dealer. • As Is-Buyer Beware, only guarantees items are there not that they will work • Standard-36,000 mi or 3 years which ever comes first Power train-100, 000 mi

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