1 / 12

Finding the Best Car: Price, Safety, and Needs

Learn how to choose the right car for your needs and budget. Discover the importance of price, safety features, and understanding your transportation needs. Use car price guides to compare prices and make informed decisions. Explore buying and leasing options and understand loan contracts.

marquerites
Download Presentation

Finding the Best Car: Price, Safety, and Needs

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. January 16, 2019 Bell Ringer What do you look for in your potential car? What must it have?

  2. Vocabulary Car price guide – a book that shows the wholesale and retail prices of cars Invoice price – the price the car dealer pays the manufacturer for a car Manufacturer’s suggested retail price (MSRP) – the price suggested by the manufacturer for a customer to pay for a new car. Warranty – an agreement that the company will replace an item, fix it for free, or return your money if the item cannot be fixed.

  3. Vocabulary (continued) Down Payment – money you give the car dealer that lowers the amount left to pay on the car. Trade-in – A used vehicle that a car dealer takes from a customer in part payment for another vehicle Lease – to rent a vehicle for a certain period of time; the written agreement to rent. Residual value – the value of a car at the end of a lease Depreciation – a decrease in the value of an item because of use and age.

  4. Buying & Leasing A Vehicle Objectives 1) Choose the best vehicle for your needs. 2) Use car price guides to compare car prices. 3) Identify ways to buy or lease a car. 4) Understand a loan contract. 5) Find the monthly car payment amount and the total amount of the car loan. 6) Find the residual value of a car. 7) Find the charges in a lease agreement.

  5. Your Transportation Needs Imagine that you have a good job, a steady income, and a place to live. You must travel to work (or school for now). What are your transportation needs? Is your job (or school) close to home? Could you walk or ride a bicycle to get there? This would keep your transportation costs low. Could you share a ride with a co-worker or friend? Can you use public transportation? Usually the cost of public transportation is reasonable. Buying a monthly pass saves money.

  6. What If All “No’s” If none of these options work for you, then you might need a car. It’s fun to dream about the car you want most. However, you should be realistic, too. You should find a car that matches your lifestyle and your income. When looking for a car, consider the following… Can you drive a car that has a stick shift, or do you need an automatic transmission? How much can you spend on a car each month? The cost of monthly car payments, car insurance, gas, maintenance, and repairs can add up quickly.

  7. What If All “No’s” When looking for a car, consider the following… How safe is the car you want? Insurance companies offer discounts for cars with safety features. Can you name some safety features? Will you need your car for long trips? If so, the car must not be too old or have too many miles on it. Will you need to carry heavy loads or equipment? If so, your car should have lots of trunk space. You might even consider a truck. What is the climate where you live? If you live in a hot climate, you may want an air conditioner. If you live in a cold climate, you may want 4-wheel drive or traction control to make it easier to drive in snow.

  8. The Best Car for You How can you find out about the best cars to buy? You can get information in books, magazines, or on the internet. You can learn from these sources how well certain cars drive, how much gas the cars use, and how much the cars cost. Cars are even rated from the best buy to the worst buy. A book called a car price guide can be very useful. You can find these books in the library and online. The car price guides give you the invoice price of a new car. This is the price the new car costs the car dealer. The car price guide also gives you the manufacturer’s suggested retail price (MSRP). This tells you if you are getting a good deal or if that car is overpriced. Use this in negotiating the price if you buy a car.

  9. Used Cars? Car price guides also help you find the price you can expect to pay for a used car. They tell you the suggested retail price for a used car. This price depends on the equipment in the car, the condition it is in, and the number of miles it has been driven. If the car dealer is asking more than the suggested retail price, then the car is not a very good buy. Let’s practice this…

  10. Example Ricky found a used car in excellent condition at a car dealership. The car does not have any special equipment. It was driven a total of 20,000 miles. The dealer wants $14,000 for the car. The price guide says the suggested retail price is $10,000. What is the difference between the prices? Should Ricky buy the car at this dealership?

  11. Example Ricky decided not to buy this car. Even with negotiations, the dealer would not go down $4,000. He found a similar car at another car dealership. The car does not have any special equipment. It was driven a total of 30,000 miles. The dealer wants $8,000 for the car. The price guide says the suggested retail price is $9,500. What is the difference between the prices? Should Ricky buy the car at this dealership?

  12. Assignment Buying and Leasing a Vehicle Worksheet on Microsoft Word

More Related