Download Buying a Car

Chapter 23
Buying and Caring for a Vehicle
Buying a Vehicle
Maintaining Your Vehicle
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Lesson 23.1
Buying a Vehicle
GOALS
Describe the process of buying a new or used
car, including selection, financing, and wise
buying practices.
Explain automobile leasing costs, processes,
advantages, and disadvantages.
Discuss consumer protection available for newand used-car buyers.
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Steps in the
Car-Buying Process
Identify your needs and
wants.
Determine what you can
afford.
Identify and research
your choices.
Decide whether to buy
new or used.
Get credit pre-approval.
Search for available
vehicles.
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Test drive each vehicle.
Check the history of a
used vehicle.
Get the vehicle checked
mechanically.
Vehicle emission test
Determine a fair price.
Negotiate the price.
Financing Your Car
Financial institutions
Car dealers
Leasing a car
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Consumer Protection
for Car Buyers
Lemon laws
The FTC used-car rule
http://www.ftc.gov/bcp/edu/resources
/forms/buyers.pdf
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Truth-in-Lending Act
the truth-in-lending act requires lender to inform borrower of:
•
Amount financed
•
What charges are included in amount financed
•
Total finance charge, in dollars
•
Annual Percentage Rate (APR)
•
Payment schedule
•
Total amount of payments
•
Total sales price
•
Prepayment penalty, if any
•
Late payment penalty, if any
•
Security interest
•
Insurance charges
teens – lesson 9 - slide 9-K
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Lesson 23.2
Maintaining Your Vehicle
GOALS
List the costs of owning and operating a
car, from depreciation, gas, and taxes to
the cost of accessories.
Describe methods for extending the life
of your car and maintaining its resale
value.
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Cost of Operating a Car
Gas and oil
Depreciation
Registration and title
Maintenance and repairs
Accessories
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Extending the
Life of Your Car
Maintain fluid levels.
Perform routine maintenance.
Keep your car in a garage.
Preserve the exterior.
Preserve the interior.
Follow wise driving habits.
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