5 Dumb Car Buying Moves. Don’t Fall in Love with a Car Test drive it first!! Test drive competing models Wait for the price to drop Don’t buy it just.

Slides:



Advertisements
Similar presentations
Car Buying & Financing Confidence Education that will save you time & money Brought to you by: Georgia United Credit Union.
Advertisements

Step by Step Guide. A new car depreciates (decreases in value) quickly - after 3 years is worth 60-70% of its original value ($20,000 = $12,000) – as.
Presented By Jim Rafter Wholesale Auto Advisors Inc. Licensed Independent Auto Dealer.
Buying and Owning a Vehicle
Unit 7: Consumer Skills Section 3: Buying a Car. I CAN Apply each of the following to the purchase of a car: ▫Acceptance ▫Cash Value ▫Counteroffer ▫Face.
CHAPTER 23 BUYING A VEHICLE. Steps in the Car Buying Process Identify your needs and wants What do you need to do with your car? Will you drive a lot.
Budgeting Basics WHPE. The goals of this chapter: To give you an understanding of how common your situation is. To outline benefits and process for creating.
How do Dealers Make Money? Economics 71a Spring 2007 Extra Lecture notes 2.4a.
7 Steps for Finding the Right Car. If you examine your needs rather than wants, you will quickly discover what the right car is for you.
CALLS, CLICKS AND CHATS WHERE MARKETING ENDS AND SELLING BEGINS Modern Solutions for Modern Dealers.
Scams Stevie's Scam School videos
By: Jason Arkell-Boles. HIDDEN DISASTERS IN HOMES Mold Leaky Drains Old Materials Bad electrical Poorly done renovations Leaky roof Roof that needs to.
+ Buying a car Ms. Perez. + Bell ringer Pick and respond to one: What are the benefits of owning a car? What are some uses for a car? What are some reasons.
Game of Life. Making the right choice  Before you begin decide how much you can afford to spend  Decide which car models and options interest you 
“ We Have Flowers for Everyday Occasions. Not Just Special Occasions.” We want our customers to feel comfortable when they walk through our doors. We.
The Basics of Building Credit
Purchasing a Car: Lesson 1 Coach Markus. Essential Questions 1. Should I buy a new car or a used car? 2. Where can I find the best car loan to finance.
8 | 1 Chapter 4: Consumer Purchasing Section 4.1 Consumer Purchasing  Today’s Agenda: 1.What influences your buying decisions? 2.Examine a research-based.
 Complete review questions 1-13  Take out everything you have done so far for your Budget Project and have it on your desk. › I’m coming around to check.
CAR BUYING. 90% of people in our culture purchase things they can’t afford. To impress people they do not like. Don’t be one of them! Especially when.
We Want To Help You Make More Money Starting Today… It’s true; Your friends at Southern Home Inspection Services want to help you make more money by sharing.
BRESEE BANK OF LOANS AND OTHER EVILS… 1 2 Oh Yes You Can Borrow Points You WORK HARDER for the SAME STUFF.
After the Storm Home Repairs and Replacement. What Happens After a Storm Victims of a storm suffer some type of loss and different levels.
Car Buying Caveat Emptor Step One: Decide What’s Important? What do you need the car for? What qualities of the car are most important?
Buying that House. First things First What is the first thing you need to do if you are house hunting? Get Pre-qualified or Pre-approved.
PERSONAL FINANCE Unit 3: Financial Responsibility and Money Management.
A Publication of Great Lakes Credit Union Tips To Remember During Your Car Search A HELPFUL GUIDE TO MAKE SURE YOU KNOW THE FACTS 4.
Purchasing a new car can be both exciting but also nerve-racking. The reason for this is that most people are cheerful that they are about to buy a new.
The Dealer Welcome! So you’ve located the right car for you and your budget and are now ready to take on the car dealer. Negotiating with a car dealer.
Buying a car Tips to remember. Buying a Used Car  Step 1: Starting out -- Why buy used?  Get a car that is as a good as a new, without the depreciation.
The Loan Welcome! So you’re looking to finance a car? Before you look at taking out loans make sure that you are financially able to pay for a vehicle.
Installment Loans: What you should do and what you should avoid while purchasing and financing a car.
How to Buy a Used Car Tim Ellis, Ph.D., P.E.,Associate Professor Civil, Construction and Environmental Engineering.
Buying a Used Car. Bell Ringer When you think of a “good car,” what features and characteristics do you have in mind?
How to Increase Gross Margin$ on New & Used Boat Sale$ By David Parker Parker Business Planning, Inc.
10 TIPS TO HELP STUDENTS SAVE MONEY BY LIA MURRAY-DRIVER.
 Safety  Insurance Institute for Highway Safety  Price  Edmunds, Kelly Blue Book, NADA,  Carfax  All cars have a VIN (Vehicle Identification Number)
CHAPTER 5Slide 1 of 5 Chapter 5. TRANSPORTATION: BUYING, FINANCING AND INSURING YOUR CARS Getting the best deal… the best financing… the best insurance.
Ford Truck MSRP - $30,740 When you drive it off the lot it will immediately depreciate by as much as 20%. $6,148 Within 5 minutes your $30,000 truck is.
Rich Dad, By: Steffy Zambrano, Irvin Gomez, Hernan S, Johnathon Poor Dad.
MAJOR EXPENDITURES: HOUSING Personal Finance Mrs. Virts.
What is the average cost of a brand new car? $31,252.
What to know? How much can you spend every month? What are Benefits to new, used & leases? Should I Buy or lease? Do I have a Down payment or Trade-In?
Personal Finance Section Buying a Car. Personal Finance Section  Don’t think of a car as a status symbol or a personal statement,. The best car is the.
Copyright 2014 © W. Seth Hunter ConsumerMath.org L11.1 The Cost of a Car BUYING A CAR Having a new car is exciting, but buying a car can gut wrenching.
Copyright 2014 © W. Seth Hunter ConsumerMath.org L11.3 Negotiating the Best Price BUYING A CAR Having a new car is exciting, but buying a car can gut wrenching.
Chapter 11 ONLINE SHOPPERS. Do you use internet for shopping? How often do you shop online? What kind of things can people buy on the Internet? Can you.
Cars & Housing FONTBONNE UNIVERSITY FINANCIAL LITERACY AND DEFAULT PREVENTION FACILITATED BY JAMES “VINNY” VINCENT ASSOCIATE DIRECTOR, FINANCIAL LITERACY.
Car Shopping. Costs of Owning a Car Depreciation Interest on loan Insurance Registration fees, license, taxes Gas Oil/fluids Tires Maintenance and repairs.
Transportation Chapter 12. Transportation Local, state, and federal transportation offices Individual transportation –Bicycles –In-line skates –Motorcycles.
Put Yourself in the Driver’s Seat Researching Car Costs Put Yourself in the Driver’s Seat Researching Car Costs Use limitations: These materials may be.
LINKS 2/17/16.  Read through the Car Advertisements and answer the question…  Which did you choose and why?
How to use credit responsibly and make it work for you.
Buying a Car Points to Remember. What to do with your Used Car? 1. Sell it yourself (private party) – the way to make the most money and also the most.
MAJOR EXPENDITURES: TRANSPORTATION Advanced Level.
1.With a lot of things ___,he went to work early. A. to be done B. done C. being done D. to do 2.I’m really busy right now. There are a lot of things.
5 Smart Suggestions You Required When Purchasing a Made use of Automobile.
Loans. Loan An amount of money borrowed and repaid with interest Interest – Money paid for the right to borrow money  Fixed rate – rate that stays the.
4 Things to Consider Before Purchasing a Used Car.
Best Used Car Dealers in UAE
The Cost of Car Ownership
Buying a Vehicle.
Personal Finance Auto Terms Review.
Car Buying Vocabulary Manufacturer- A company that makes goods for sale, like cars. Dealership- An establishment authorized to buy and sell cars. MSRP-
Buying a Car Personal Finance.
Ahmed Sheikhly in Portland Oregon Certified tips provider
Would you survive financially in the real world?
Buying and selling a vehicle.
How to DEBUNK the Salesperson
Introduction When searching for a new mattress, you have to make sure you know where to go to find the best one. The mattress you sleep on is going to.
Presentation transcript:

5 Dumb Car Buying Moves

Don’t Fall in Love with a Car Test drive it first!! Test drive competing models Wait for the price to drop Don’t buy it just because it’s hot - this will fade like all fashion trends

Don’t take a long-term loan You end up paying more in interest If you trade in the car and you haven't paid off a big chunk of your loan, you could end up owing more than the car is worth

Don’t negotiate trade-in and purchase at the same time "Hey, I'm getting a $42,000 car for $35,000!“ – NO!! It’s not a gift!! – You have the right to get as much as you can for your old car. Don't allow the dealer to tell you what it's worth. Negotiate the price of the new car to as low as possible first. Then negotiate your trade-in and get that as high as you can. – If you still feel like it's not enough, take the car elsewhere or sell it yourself.

Don’t Negotiate in Person Most dealerships negotiate this way today. Negotiating over the phone or via keeps you in your comfort zone. Go to Websites where you can search the inventory online and request a quote. You can be sure the vehicle really has all the features you want. When the negotiation's done, ask them to fax you the deal in writing so there will be no surprises when you arrive to get your car

Don't: Take a 'great deal' on the outgoing model year You may be tempted by a steep discount on an outgoing 2008 model year car, but that the car will ultimately be worth less at trade-in time than a However, there is less of an issue if the 2008 model year version is unchanged from 2007.

Used Cars to Avoid

Any car without a service history Today everything is computerized A car with no service history means it’s never been serviced Most cars are beyond the skills of the home mechanic

Any Car with a Salvage Title This means they have taken two cars which were total wrecks and pieced them back together Salvages titles are not just for crashed cars but totaled cars

Anything with mismatched tires With regular rotations, most tires wear out at the same rate Beware of bargain name tires, they are usually cheap and mean more trouble for you All the tires should be the same make, model, and size

Any car with brushstrokes in the paint House paint is for houses and car paint is for cars Some people may use other non- sanctioned materials to repair the car. Do the magnet test on the body.

Any Suped-Up Car These cars have lots of problems Stiff shocks, hard springs, large impractical engines They are not comfortable nor do they block out noise The streets are not racetracks, get real!

Words of Advice Do your research Don’t get scammed by big talk Don’t immediately fall in love with a car Ask a mechanic to go with you Don’t make an offer right then and there….WAIT!