How to Finance a Car

1. What are the three instances when paying cash is a good idea when purchasing a car?- In addition to the usual shorter term of the loan, you have to qualify for that rate. In most cases, if your credit score is lower than 680, you won't be able to get the lowest rate. You may be limited to buying from what's on the lot, rather than being able to order a car with the exact features you want. Know that by going for the low interest rate you usually lose the cash rebate. It's one deal or the other -- not both
2. List the five ways that you can finance your car.
- Bank, family member, credit union,
3. Which way do you think is the best to finance your car? Explain your answer in 1-2 complete sentences.
- Pay for it with money you already haveso you dont owe someone.
4. What information is gathered from your credit history and credit score?
- To see if you pay your paments on time.
5. What has a higher rate? New or used cars?
- Used car has a higher APR.
6. Explain why you must negociate when you purchase a car from the dealer.
- So you and the dealer are cool and you might have a chance to get a discount.
7. Explain three reasons why getting 0% APR is much harder than advertised.
- A shorter term loan, You could only buy certain cars on the lot, and if you go for the lowest interest rate you might lose the cash rebate.
8. What are the five things you need to pay attention to when getting a car at the dealership?
- Extended warranties, Rust protection, undercoating, fabric protection and paint protection, Alarm systems and window etching, and insurance.
9. What are the four things for Buyer Beware? Explain EACH.
- Spot delivery- they dont check your credit score, Additional Mark-up- They raise up the price at the last minute , Credit Report- They check in you make payments on time, How much is the total financed amout- How much did the bank loan you.

how to buy a car

1. What are four things you must know about buying a used car?
- year of car, conditions that car is in, miles car has, price of the car
2. What is one benefit of buying a used car over a new car?
- A used car costs less then a new car.
3. What is an "As Is" agreement? Why should you never sign an "As Is" agreement?
- An "as is" agreement is that your willing to take the car as it is. If the car has a problem with it then you have to fix it instead of them fixing it.
4. What does MSRP stand for?
- Msrp stands for Manufacturered Suggested Retail Price.
5. What is good about the website, CarBuyingTips.com?
- It lets you know everything you need to know about buying a new or used car.
6. Why should you know about your credit history BEFORE walking into a dealership?
- You should know your credit history so if the dealer asks you something about your credit then you could answer him in a good way because you know about your credit history.
7. What is the difference between the average price and the sticker price?
- Average price is a negociatable price and the sticker price is non-negociated.
8. What are the three main ways a dealer can scam you?
-They may start asking you pay extra payments,
9. What are the two best times a year to buy a car?
- Last two weeks of December, July to October are the best times to buy a car.
10. What is a down payment?
- A payment used in the context of the purchase of expensive items such as a car and houses
11. What does it mean to finance your car?
 - Finance means when your bank puts the down payment and then you pay the bank back.
12. What does APR stand for?
- Annual Percentage Rates
13. What is a "lemon?
- A lemon means a bad car.

Year, Make, Model
- 2001,Dodge, Ram
Miles
- Unlisted
Color
- silver
Cost of vehicle
- 5995
Dealer or Personal

- Del Norte Autosales

Virtual Future & Family, Day 3

7. Do you want to go to college? Find the average loan/debt accumulated for a 4-year bachelor's degree. Find what your monthly payment would be.
- military
8. Do you think your potential spouse will have gone to college? Double your college loan/debt amount. Double your monthly payment.
- No
9. Do you want your kids to go to college? Look up how college rates are expected to climb in 25 years. How much money should you save per month to have a college fund for your child? Multiply this by the number of kids you want to have.
- military
10. Do you want a cell phone? Cable? Internet? Look up the average monthly cell phone bill. Look up the average cable bill. Look up the average wireless internet bill.
- 30 dollars for everything
11. Do you want to cook at home every night? Go out every night? A combination of both? Consider your family size (your spouse, the number of kids you want to have, and yourself). Find the average grocery bill. Then, look up how much people spend on just going out/eating out each month. Add those totals together.
- 450 dollars a month
12. Do you want to go on vacations? Consider one place that you want to go. Where is it? Look up the ticket price. Look up the hotel rate and multiply it by the number of days you'd want to go on vacation for.
- 4,000 dollars
13. Do you want a savings account for "rainy days?" Look up the percentage of money that you should save each month from your paycheck.
- 40 dollars