1. © South-Western Educational Publishing Chapter 23 Buying and Caring for a Vehicle  Buying a Vehicle  Maintaining Your Vehicle

2. GOALS © South-Western Educational Publishing Lesson 23.1 Buying a Vehicle  Describe the process of buying a car.  Explain automobile leasing costs, processes, advantages, and disadvantages.  Discuss consumer protection available for new- and used-car buyers.

3. © South-Western Educational Publishing 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.  Research insurance rates.  Search for available vehicles.  Test drive each vehicle.  Check the history of a used vehicle.  Get the vehicle checked mechanically.  Determine a fair price.  Negotiate the price.  Dealer add-ons

4. © South-Western Educational Publishing Financing Your Car  Financial institutions  Car dealers  Leasing a car

5. Warm up  Which consumer production law is protecting for used car purchase and explain what is covered. © South-Western Educational Publishing

6. Consumer Protection for Car Buyers  Lemon laws  A lemon is a car with substantial defects that the manufacturer has been in unable to fix after repeated attempts.  Its considered a lemon if 1 st year or 12000 miles and taken to dealer 4 times or out of service for 30 days.  You get a new car or money back.

7. © South-Western Educational Publishing Consumer Protection for Car Buyers  The FTC used-car rule  Requires used-car dealers have to inform consumers ahead of purchase who is responsible for paying for certain repairs.  AS is – the buyer must pay all repair cost  Warranty- Dealer pays for items listed for a period of time or miles. See p.555

8. GOALS © South-Western Educational Publishing Lesson 23.2 Maintaining Your Vehicle  List the costs of owning and operating a car.  Describe methods for extending the life of your car and maintaining its resale value.

9. © South-Western Educational Publishing Costs of Operating a Car  Gas and oil  Depreciation  Registration and title  Maintenance and repairs  Accessories

10. © South-Western Educational Publishing 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.

11. How to figure out cost of car  Using your worksheet  Figure out the monthly payment using a payment calculator. So this for the new car and used car.  Terms 5 years and 18% interest  Terms 5 Year and 4% interest © South-Western Educational Publishing