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BUYING A CAR
HONDA TOYOTA FORD CHRYSLER BMW
DODGE CHEVROLET BUICK PONTIAC
I. “Cars are transportation, not trophies, status symbols or toys.”
II. “Feed your family not your ego.”
III. “Find a car that fits your budget and your needs – not necessarily your fantasies.”
IV. Costs of owning and driving a car:
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V. Transportation is getting from point “A” to point “B” as cheaply and efficiently as
possible.
Pizzazz vs. Plain
BUYING A CAR continued PF-N
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VI. Almost all experts say that a good quality used car (I.E. 2 to 3 years old) is
usually a far greater bargain than a new car. When buying a used car from an
individual or a small used car dealer be sure that the car will pass the Safety and
Emissions tests.
VII. Buying a Used Car
Advantages Disadvantages
1. Lower cost 1. Possibly more maintenance & repairs
2. Less depreciation 2. May not have some safety features
3. Lower taxes and insurance 3. “As is” usually no warranty
4. Lower total finance cost 4. Don’t know history of car
5. Less emotional investment (less 5. May not be size, style or model you need
worry about scratches & dents,
etc.)
VIII. Buying a New Car
Advantages Disadvantages
1. Peace of mind/dependable 1. Higher cost
2. Has warranty 2. Higher depreciation
3. Know history of car 3. Higher total finance costs
4. Lemon Law applies 4. Usually higher payment
5. Less maintenance & repair costs 5. Higher taxes and insurance
6. Usually more safety features 6. More worry about scratches and dents
7. Type, model, size you need
8. Should last longer
IX. Be prepared and Well Informed When Buying a new or Used Car
Safety, Recalls, and Defects: Local Dealers: Other:
www.nhtsa.dot.gov www.autobytell.com www.vehix.com
www.autoweb.com www.cars.com
www.carfax.com
Independent Evaluation: General Info and Invoice Prices: www.carpoint.com
www.consumerreports.org www.KBB.com www.autoweb.com
www.edmunds.com www.auto.com
www.autotrader.com
www.NADA.com
X. Be sure your car loan does not last longer than you plan to keep the car ----why?