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BUYING A CAR

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									                                                                 BUYING A CAR


Are you going to buy a new or used car? _________
Why?
_________________________________________________________________________________________
_________________________________________________________________________________________

Do you have a trade in? ________

Make: ________ Model: ____________ Year: _____________ Mileage: __________
Transmission: standard or automatic ___________
4 cylinder 6 cylinder or 8 cylinder (circle the one that applies)

What is the value of your trade in? (check www.kbb.com) ____________________
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Your new car:

Make _____________ (brand) Model _____________ Year: ______________

Mileage (how many miles are on the odometer) ____________

Asking Price: ________________________

Comparable prices: Internet ad $___________________
                   AutoTrader $__________________
                   Newspaper $__________________

Are you buying this car from a dealer or private individual? __________________

Your zip code: _______________

Features (check all that apply):
      Power Sliding Door                  ABS (4-Wheel)                                               Single Compact Disc                 Grille Guard

      Power Sliding Doors                 Traction Control                                            Multi Compact Disc                  Winch

      7 Passenger Seating                 Leather                                                     MP3 (Single CD)                     Optional Fuel Tank

      8 Passenger Seating                 Power Seat                                                  MP3 (Multi CD)                      Towing Pkg

      Air Conditioning                    Dual Power Seats                                            Premium Sound                       Custom Paint

      Rear Air                            Quad Seating                                                Navigation System                   Two-Tone Paint

      Power Steering                      Flip-Up Roof                                                Parking Sensors                     Alloy Wheels

      Power Windows                       Sun Roof                                                    DVD System                          Premium Wheels

      Power Door Locks                    Moon Roof                                                   Video System                        Wide Tires

      Tilt Wheel                          Roof Rack                                                   Dual Front Air Bags                 Ovrsize Off-Rd Tires

      Cruise Control                      Privacy Glass                                               Front Side Air Bags                 Oversize Wheels 20"+

      AM/FM Stereo                        Running Boards                                              F&R Side Air Bags

      Cassette                            Custom Bumper
What is the suggested value of your car from www.kbb.com? ______________________

Based on the asking price and suggested value of your car, what are you willing to pay for your car?
________________________

Figuring payment:

What is the price you will pay for the car: $________________________
                    Less: down payment (_________________________)
                                   Trade in (_________________________)
                       Amount financed: $__________________________

What bank or credit union will you use? ______________________________

Look on the bank or credit union website and see what the interest rate is for a loan on the car that you
are buying (rates on used cars are higher than those on new cars). You will have to know whether you are
buying a used or new car, the make, model, year and mileage on the car, and how many months you are
borrowing the $$ for. (1 year = 12 months; 2 years = 24 months; 3 years = 36 months; 4 years = 48
months; 5 years = 60 months) ***The longer you borrow the money, the more it will cost you, but the
lower your payment will be.

What is the rate? _______________________ # of months of your loan __________________


Figure the cost of financing : amount financed              __________________
                                x interest rate             x_______________
                                x number of months/12 x _______________/12
                                         Cost of financing: $_________________

Figure your payment:    Amount financed: _____________________
                         + cost of financing:  +____________________
                         ÷ number of months    ÷____________________

                       Monthly payment =           ______________________

Now, get your insurance quote
Insurance company: _________________________________
Male or female: ____________________________
Age: _____________________
Driving problems (tickets, accidents, arrests (driving related)):
_________________________________________________________________________________________
_________________________________________________________________________________________
_________________________________________________________________________________________

When you get your quote, you will need to tell them that you want liability coverage at 100,000/300,000.
You can decide what your deductible will be. The lower your deductible, the higher your monthly payment
will be. However, if you have an accident you will have to pay your deductible before insurance kicks in (if
you choose a $1,000 deductible, you need to be able to pay that much if you have an accident).

How much will your insurance be each month: _______________________________________
Note: If you are given a quote for 6 months, you need to divide it out to find your monthly payment.

								
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