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Buy a Car Activity
Buy a Car
1. Blue Book to sell your current car
2. Buy a used car off Kelly Bluebook or from a large reputable local dealership
3. Buy a new car from large reputable local dealership
4. Lease a new car from large reputable local dealership use the price and the
calculators below.
Car Calculator
Kelly Blue Book
Directions Sell a Car and Buy a Car off Kelly Bluebook
Dealerships:
Examples: , , , ,
Selling Your Current Car
Kelly Bluebook-
Kellyʼs Blue Book- Students must know their make, model, yr. of car, cylinders and miles on car. Can estimate if needed.
1. What is the Make and Model of your car (I.E. Mercury Moutaineer, Ford Explorer) ____________________________________
2. What is the year your car was built- _______________________
3. Does your car have 4, 6, or 8 cylinder? __________________________
4. Does your car have any extras?
Circle or bold from the list below.
Air Conditioning, Power Steering, Power windows, Power Door locks, Cruise, AM/FM, Cassette, CD, DVD, MP3, Navigation, Phone, Video, Dual Air Bags, Side Air bags, 4 wheel Drive, Leather, Power seats, Third Row Seats, Sun roof, Roof Rack, Privacy Glass, Running Boards, Custom Bumper, Grille, Towing Pkg, Snow Plow, Premium Wheels, Off-Road or others
Other: _______________________________________
5. Is it in Excellent, Good, or Fair Condition?
Use the websites description. ____________________________________
6. What is the price of your current car...
a. Find Trade in Value ________________________
b. Find Private Party Value _________________________
c. Suggested Retail Value ____________________________ (click next Buy/Sell at top of page)
d. CPO Value _____________________________ (click next Buy/Sell at top of page)
What have you learned about your carʼs price? Was what you learned expected or unexpected and why?
Buy a Used Car
Your parents will no longer pay for your car so you will have to find a new used car that will work for you in college. The problem is you donʼt have the money right now and you will have to take out a loan to buy this car. The goal is for this car to make it through college (5 years). Subtract $500 because you shouldnʼt pay full price for a used car, the list price is negotiated.
What site did you choose to buy a used car? ____________________________
1. What is the Make and Model of your car (I.E. Mercury Mountaineer, Ford Explorer) ____________________________________
2. What is the year your car was built- _________________________
3. Does your car have 4, 6, or 8 cylinder? ____________________________
4. Does your car have any extras? Circle from the list below.
Air Conditioning, Power Steering, Power windows, Power Door locks, Cruise, AM/FM, Cassette, CD, DVD, MP3, Navigation, Phone, Video, Dual Air Bags, Side Air bags, 4 wheel Drive, Leather, Power seats, Third Row Seats, Sun roof, Roof Rack, Privacy Glass, Running Boards, Custom Bumper, Grille, Towing Package, Snow Plow, Premium Wheels, Off-Road or others
_______________________________________
5. Is it in Excellent, Good, or Fair Condition? Use the websites description. ____________________________________
6. What is the sticker price of cost of the car? _______________________________
a. Subtract $500 from offer price for financing? ________________________
7. What is the cost of the monthly payment for a 5 year loan (60 months) Use 6a price. a. @ 3.99% APR (good credit) ____________________
b. @ 7% APR (Bad Credit) _______________________
8. What is the amount of interest you will pay for each loan
a. _________________
b. __________________
9. What is the total cost of the car- including interest and purchase price? a. _________________ b. __________________
Why did you choose this car? What is the benefit of buying used? Explain how bad credit can cost you money.
Buy a New Car
You have your job and now you get to buy a new car that you like. You have $5,000 dollars down payment to choose any car. You will finance the rest of the car but you have at least $600 a month for the car. Buy 1 car of your choice from local dealership
What site did you choose to buy your car? ____________________________
1. What is the Make and Model of your car (I.E. Mercury Mountaineer, Ford Explorer) ____________________________________
2. What is the year your car was built- _________________________
3. Does your car have 4, 6, or 8 cylinder? ____________________________
4. Does your car have any extras? Circle from the list below.
Air Conditioning, Power Steering, Power windows, Power Door locks, Cruise, AM/FM, Cassette, CD, DVD, MP3, Navigation, Phone, Video, Dual Air Bags, Side Air bags, 4 wheel Drive, Leather, Power seats, Third Row Seats, Sun roof, Roof Rack, Privacy Glass, Running Boards, Custom Bumper, Grille, Towing Package, Snow Plow, Premium Wheels, Off-Road or others
_______________________________________
5. Is it in Excellent, Good, or Fair Condition? Use the websites description. ________________________________
6. What is the cost of the car? _______________________________
a. Financing: Subtract $5,000 down payment from above to = _________________
7. What is the cost of the monthly payment for a 5 year loan (60 months). Use 6a for payment?
a. @ 3.99% APR (good credit) ____________________ b. @ 7% APR (Bad Credit) _______________________
8. What is the amount of interest you will pay for each loan
a. _________________
b. __________________
9. What is the total cost of the car- including interest and purchase price? a. _________________ b. __________________
Check the dealership page for rebates? Explain one rebate offered and how a rebate could change what you purchase and why?
Lease a Car
You have your job and now you get to buy a new car that you like. You have $3,000 dollars down payment to choose any car. You have at least $400 a month for the car so choose a different car of your choice. Buy 1 car of your choice from local dealership
What site did you choose to lease a car? ____________________________
1. What is the Make and Model of your car (I.E. Mercury Moutaineer, Ford Explorer) ____________________________________
2. What is the year your car was built-
___________________________________
3. Does your car have 4, 6, or 8 cylinder? ____________________________________
4. Does your car have any extras? Circle from the list below.
Air Conditioning, Power Steering, Power windows, Power Door locks, Cruise, AM/FM, Cassette, CD, DVD, MP3, Navigation, Phone, Video, Dual Air Bags, Side Air bags, 4 wheel Drive, Leather, Power seats, Third Row Seats, Sun roof, Roof Rack, Privacy Glass, Running Boards, Custom Bumper, Grille, Towing Package, Snow Plow, Premium Wheels, Off-Road or others
_______________________________________
6. What is the total cost of the car? ___________________________________
7. What is the amount you will have to take in a lease? ____________________________________
8. Use the loan calculator, what is the likely payment of your car after down payment.
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