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Buying a Car

Buying a Car. Before you buy a car, know the following…. The exact price you are paying The amount you are financing The finance charge The APR The number/amount of payments Total sales price (sum of monthly payment plus the downpayment). What should you do?.

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Buying a Car

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  1. Buying a Car

  2. Before you buy a car, know the following….. • The exact price you are paying • The amount you are financing • The finance charge • The APR • The number/amount of payments • Total sales price (sum of monthly payment plus the downpayment)

  3. What should you do? • Check Bluebook values on the Internet for your current car. • On the Internet, research the most dangerous cars on the road. >Why would people buy these cars? • What is the Monroney sticker?

  4. What is the Monroney sticker? • Automobiles are the only consumer items required by law to carry manufacturer suggested retail price stickers. This sticker is attached to a window of the vehicle. • It shows the base price of that model, including all standard equipment; manufacturer-installed options and their retail prices; transportation or freight charges (also known as destination or delivery charges); and the total manufacturer's suggested retail price. Details about the average fuel economy for the vehicle are required on all cars and light trucks; this information is usually included on the Monroney label, but will sometimes be found on a separate sticker, the EPA [Environmental Protection Agency] Fuel Economy Label. The Monroney label may not be removed by anyone other than the purchaser.The legislation requiring the sticker is commonly known as the Monroney Law, named after its sponsor in Congress, Almer Stillwell "Mike" Monroney (1902-1980): Born in Oklahoma; U.S. Representative from Oklahoma, 1939-51; U.S. Senator from Oklahoma, 1951-69.

  5. Check out…. http://www.youtube.com/watch?v=pPor5b7JLLE • How much can you afford? Determined by your savings, monthly earnings, living expenses, and any debt that you have. • If you pay cash, you save money because car loans require that you pay interest.

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