Car

=Car Information= This page should tell the type of car each of you are driving. BOTH INDIVIDUALS WILL HAVE THEIR OWN CAR. You will include the year, make, and model of each car. CAR #1 This car you already own. You must tell when you bought it and from who. Talk about the purchase price as well. You must go to Kelly Blue Book to check out the sale value of your car. Also, since you own this car, it cannot be a better car then the car you are purchasing. CAR #2 YOU MUST PURCHASE THIS CAR! Include ads from the paper or internet to help document the cost of purchasing the car. Explain how much the car will cost and how much you expect the monthly payments will be to the bank. A banker and your instructor will be very helpful in helping to determine what the interest rate will be and payment. Use a money analyzer to help you determine how much the payment will be. YOUR INSTRUCTOR CAN SHOW YOU HOW. THIS IS A MUST!!

Choose a car your budget can handle and document how you decided what to buy and then take out a loan for the amount you need to finance. Show the bank you have chosen, the interest rate, amount of the loan, and how much will be paid after interest is added to the loan. (use a money analyzer)

Tell HOW MANY MILES you plan on driving your vehicles each month and show computations that tell how much gas you expect to use each month to operate your cars.

Also, tell how often you expect to CHANGE THE OIL and ROTATE YOUR TIRES, and list the estimated cost of each of these items (even if you do this yourself, there is a cost). Estimate how much you will spend on STANDARD MAINTENANCE of your cars. LIST THE TOTAL HERE AND IN YOUR BUDGET LATER.

Estimate a monthly amount to save for unexpected repairs your vehicles will need. Remember, you will not have a repair each month, but when you do, it can easily run $300-$600 per repair. Budget accordingly. DOCUMENT AN AMOUNT FOR REPAIRS EACH MONTH TO YOUR CAR. Also include this in your monthly budget later.

REMEMBER Both must have a car - One must be purchased Determine cost of cars when purchased - Even the one you already own (kbb.com) Document loan amounts of the car you are making payments on Tell miles you plan to drive and gas costs associated with the miles driven Document the estimated regular maintenance cost per month (IMPORTANT) Document the estimated repair amount for your budget per month (IMPORTANT) Show ads documenting approximate cost of the cars in your price range

How To Buy a Car From a Private Seller media type="custom" key="2912295"

Car Dealership Secrets on How to Buy a Car media type="custom" key="2912303"

=Questions??= (please type below)