Bell Ringer (Day 6) Write half page red to red about the
following statement. Some movies are serious, designed to
make the audience think. Other movies are designed primarily to amuse and entertain. Which type of movie do you prefer? Use specific reasons and examples to support your answer.
Save these to be turned in with your test!
Reminder1.1. Bring paper/pen/pencil and notebookBring paper/pen/pencil and notebook
2.2. Electronics are for instructional use with permission Electronics are for instructional use with permission
3.3. Don’t forget to do daily quizzes on QUIA.COMDon’t forget to do daily quizzes on QUIA.COM
4.4. No Excuses why you don’t take Quizzes 1-6 No Excuses why you don’t take Quizzes 1-6
before test day!! (Quizzes are worth 30% of grade)before test day!! (Quizzes are worth 30% of grade)5.5. Attendance is MANDATORY!! (NO SLEEPING in class)Attendance is MANDATORY!! (NO SLEEPING in class)
6.6. All notes can be found on Harrisonburg’s staff website:All notes can be found on Harrisonburg’s staff website:
http://staff.harrisonburg.k12.va.us/~tbutler/http://staff.harrisonburg.k12.va.us/~tbutler/
7.7. If you are NOT taking notes in class, please be quiet and If you are NOT taking notes in class, please be quiet and ask to use the restroom at the end of class.ask to use the restroom at the end of class.
This is what you are trying to get at the end of class..This is what you are trying to get at the end of class..
Harrisonburg High School
H.C.P.S
36
x
03/06/2012
Your Name Here
“Green Card”
Objectives: (Day 6)
Students will learn the benefits and drawbacks of buying new vs. used cars.
Students will learn about different places to purchase automobiles.
Students will understand the different purchasing methods when it comes to buying a car.
Students will understand the characteristics of an automobile warranty
Related SOL: DE.19
Buying A CarBuying A Car
You have to decide whether or not you want to buy a new car or a used car, but…
Buying A CarBuying A Car
A good estimate to how much your payment will be is to figure $20/month for every $1,000 financed.
And that’s for 5 years or 60 months
Buying A CarBuying A CarExamples: A $10,000 car would
cost $200 a month A $20,000 car would
cost $400 a month A $30,000 car would
cost $600 a month A $40,000 car would
cost $800 a month
That’s EVERY MONTH for 60 months!! Oh, not including insurance, maintenance and don’t forget gas!!
The The BenefitsBenefits of buying new of buying new
never been in a wreck never been smoked in hasn’t had any past
maintenance reduced future
maintenance warranty coverage get the latest and
greatest features better finance rates
The The DrawbacksDrawbacks of buying new of buying new
Higher costs High depreciation Decreased choices on car lot (but
you can order a car)
**A LE is the middle of line Camry**
The The BenefitsBenefits of buying used of buying used
Lower costs certified pre-owned
programs Avoiding
Depreciation increased choices
on lot
The The DrawbacksDrawbacks of buying used of buying used
You don’t know history of car
Do a lot more research– Ask friends, internet etc.
Could have been smoked in
Could have been wrecked
Higher interest rates May buy “as is”
How to find the history of your carHow to find the history of your car
To find the history of yours, or any car, you can go online to many different websites such as CARFAX.com, cars.com, usedcars.com...etc.
You can also ask the dealership for information regarding your car.
VIN: 1HGED3649KA081343 Year/Make/Model: 1989 HONDA CIVIC DX Body Style: Sedan 4 DR Engine Type: 1.5L L4 FI Manufactured In: UNITED STATES Search Results: 4 records found in our database
IMPORTANT! The 4 records on this 1989 HONDA CIVIC DX will confirm a clean history or uncover potential problems. Find out by ordering the complete CARFAX Vehicle History Report.
Example from CARFAX.comExample from CARFAX.com
DO NOT WRITE THIS SLIDE!
Places to buy a carPlaces to buy a car
new/used car dealership
websites person-to-person
transactions. – print classifieds
Dealership or a Website
Most of them are required to give a complete and accurate vehicle history report.– Doesn’t mean
that the salesperson won’t lie to you
Person-to-Person Transactions
You can’t always trust person-to-person transactions – it’s easy to lie about the car wasn’t ever in an
accident when it could very easily have been a salvage vehicle.
What To Know Before You GoWhat To Know Before You Go
The first thing that you have to do before going out to buy a car is to check your credit history – Freecreditreport.com– or at your bank
Loans
Most people do not have enough cash to buy a car outright
Loans are simply an agreement to lend money for the right to charge an interest rate on that money as it is paid back.
Can be 2-7 years
Payment For Your CarPayment For Your Car
Down payment- The amount you pay upfront to lower the amount you have to finance
Annual Percentage Rate (APR)- The percentage of interest that you pay on your car per year
Financing the balance- How to pay for what you still owe on the car you’re buying
Leases Benefits
Can be a great deal… A long-term rental
agreement in which you pay for the right to use a car.
You get a car that you couldn't afford to buy, and you have a low down payment, and slightly lower monthly payments.
Leases Drawbacks
At the end of the lease term:– Drop the car off– you can purchase the car for the
price determined at the beginning of the lease agreement.
• Cash• Refinance balance
May pay expensive penalties:– exceeding the mileage limits of
the lease – Excessive wear and tear on the
car– Ending the lease before it
expires. – And while you lease the car, it is
your legal responsibility.
Types of Car Warranties
You may see these advertised:– 36-months*/36,000-miles – 60 months*/60,000 miles – 7 years*/100,000 miles– 10 years*/ 100,000 miles
Types of Car Warranties
Basic Coverage– (all components other
than normal wear and maintenance items).
Power train Coverage– (engine,
transmission/transaxle, front-wheel-drive system and rear-wheel drive).
VIN NumbersVIN Numbers
The VIN number is your Vehicle Identification Number.
A VIN number is your cars serial number.
Your cars VIN number is located in many places
Tips When Buying a CarTips When Buying a Car
Have the mechanic give the car a full inspection
Avoid “as is” statements
Have your finance and loan approvals ready before you even go to the dealership
Don't discuss the possibility of a trade-in until you get the best possible price for your new car.
•Any market adjustment prices•Taxes-
•VA sales tax•Dealer tax
•DMV fees•Plate fees•Title fees•DMV processing fee
•Dealer processing fees•Bump Stickers!!
Hidden CostsHidden Costs
Wholesale (Dealer or Invoice) Price- What the dealership paid for the car
Retail (MSRP) Price- What the dealership asks for the car
Price DifferencesPrice Differences
How dealerships make money
Sell over invoice Sell extra products Finance through the
dealership Holdback is money
paid to the dealer by the manufacturer when a car is sold.
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