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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 worry about scratches & dents, etc.) / 5. / May not be size, style or model you need

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?