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Purchasing a Vehicle

Purchasing a Vehicle. Can you name 7 places that you can purchase a car from?. By Owner Used car dealership New Car Dealership Auction Rent-A Car Bank E-bay. Rav 4. vehix.com. New vs. Used Cars. What happens when you drive a new car off the lot? Depreciation- What is this?

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Purchasing a Vehicle

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  1. Purchasing a Vehicle Can you name 7 places that you can purchase a car from? • By Owner • Used car dealership • New Car Dealership • Auction • Rent-A Car • Bank • E-bay Rav 4

  2. vehix.com

  3. New vs. Used Cars What happens when you drive a new car off the lot? • Depreciation- What is this? • The value of the car drops the minute you drive off the lot • Depreciates 15-20% each year • Calculate the depreciation of a $12,000 car after 1 year $ 12,000 $12,000 X .15 -$1,800 $1,800 Value $10,200 When buying a used car, how can you find out what it is worth? • Classifieds • Auto Trader Magazines • Kelly Blue Book-average market value of a car- depends on the condition of the car (excellent/good/fair/poor) • Kelley Blue Book - New Car Pricing and Used Car Values

  4. Now you’ve decided on buying a New or Used car, you’ve decided on where to shop for the car,Now what are you looking for in a car? Needs- Standard Equipment • Consider size of vehicle • Manual or Automatic • Fuel Economy**** • Safety Standards: crash tests Wants- Optional Features/Specifications/ Technical Specs • HD Radio/MP3 accessories • sun roof • leather seats • GPS • Remote entry/starter

  5. Price of a Vehicle • New Cars • Invoice Price: How much the dealer pays to get the car • MSRP (Manufacturers Suggested Retail Price): How much the dealer will sell the car to you for. Usually higher than the invoice price. • Used Cars • Trade in Value: Trade-in Value is what consumers can expect to receive from a dealer for a trade-in vehicle. • Suggested Retail Value: Representative of dealers' asking prices and is the starting point for negotiation between a consumer and a dealer.

  6. FACTS ABOUT FUEL EFFICIENCY • CONTROL YOUR SPEED • PROPER TIRE INFLATION • FOR EVERY 5 MPH INCREASE IN SPEED YOUR CAR GETS 1.5 FEWER MILES PER GALLON • COAST TO A STOP AND MODERATELY ACCELERATE • VEHICLE DESIGN-MORE STREAMLINED • SMALLER ENGINES

  7. Hybrid Cars- What are they? • Gas and Electric Car • Better gas mileage in CITY driving • Recharge during braking and coasting • $5,000 - $10,000 thousand more than regular cars $23,000 Honda Prius $28,600Mercury Mariner

  8. CALCULATING MILES PER GALLON (mpg) • Fill up your tank • Record the ODOMETER reading • Drive until you have ½ a tank of fuel • Refill tank and record ODOMETER reading and # of gallons used to fill tank • Subtract first odometer reading from the second reading and divide by the number of gallons needed to fill the tank • The result is the number of miles per gallon

  9. MPG ODOMETER READING #1: 12, 889 MILES ODOMETER READING #2: 13,101 MILES # OF GALLONS NEEDED TO FILL: 12 gal 13, 101 -12, 889 212 MILES DRIVEN 212 miles / 12 gal = 17.66 mpg

  10. How many (MPG) does this Grand Am get? 1st odometer reading = 45,608 miles 2nd odometer reading =45,828 miles # gallons to fill tank = 10 gallons ______________mpg 22 How many (MPG) does this Dodge Durango truck get? 1st odometer reading = 45, 608 2nd odometer reading = 45,752 # of gallons to fill tank = 12 gallons ______________mpg Which automobile is more fuel efficient?____________________ Why do you think this is true? 12 Grand AM

  11. Responsibilities of Maintaining Your Car Monthly Expenses • Monthly Car Payment • Gas • Insurance Premium • IPass • Parking Yearly Expenses • Village Sticker • License Plate Renewal Sticker • Oil Change- 4x year • Tires, brakes, light bulbs, tune ups, etc.

  12. Buying a Car Project 10 points • Use Yahoo Autos, MSN autos, Vehix.com, carmax.com to research a NEW car • Research: • price • safety • fuel efficiency • optional features • Dealerships • Find the trade in value and the suggested retail value of a used car using the online Kelley Blue Book • www.kbb.com • MPG – fuel efficiency equations • Provide a picture of the vehicle CR A- DUE 12/8 CR B – Due 12/9

  13. TransmissionAutomatic • Drive2WD • Engine6.1L engine • Cylinders8 cylinders 2010 Dodge Challenger RT • PKG: 22X • ABS Brakes • Air Conditioning • AM/FM Stereo • Automatic Transmission • CD Audio • Cruise Control • Leather Seats • Overhead Airbags • Power Locks • Power Mirrors • Power Windows • Rear Defroster • Satellite Radio Ready • Side Airbags • Traction Control • MPG HWY • 22 • MPG City • 14 • Transmission=Automatic • Drive2WD • Engine6.1L engine • Cylinders8 cylinders • 22 • MPG City • 14 $41,657.00 Invoice $ Fair Purchase Price  | Add options to update your price $43,294.00

  14. Cost to own

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