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Transportation Going Mobile ISBE Objectives After studying this unit students will be able to: Identify alternative means of transportation; Determine the relative advantages of each;

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Transportation l.jpg

Transportation

Going Mobile


Isbe objectives l.jpg
ISBE Objectives

  • After studying this unit students will be able to:

  • Identify alternative means of transportation;

  • Determine the relative advantages of each;

  • Determine the need for transportation based on usage patterns, operating costs, maintenance costs and storage fees;


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  • Recognize the importance of counting a person’s time, safety and comfort as costs of alternative transportation modes;

  • Recognize that a large portion of income is used for the purchase and use of an automobile;

  • Recognize the care needed in the efficient and economic operation of an automobile;


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  • Understand how to evaluate different modes of transportation with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Be aware of the various social costs of transportation, i.e., pollution, depletion of resources and congestion;

  • Understand that as much care should be taken in shopping for automobile financing as is taken in shopping for the car itself.


Transportation systems l.jpg
Transportation Systems with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Provide freedom in regard to living, working and shopping,

  • Increase economic activity and

  • Provide for efficient distribution of goods and services.


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System Interdependence with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Competition between

  • The network of highways, streets and alleys

    • Railroads

    • Subways and

    • Airlines

  • Policies that favor one might hurt others, e.g., free streets,

    subsidies to others.


Transportation needs l.jpg
Transportation Needs with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Travel to

    • School

    • Shopping

    • Work

    • Recreation

  • Related to financial resources

  • Physical limitations

  • Time availability

  • Travel type vs. availability


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Travel Advantages/Disadvantages with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Rail advantages

    • Leave the driving to us

    • Beautiful scenery without billboards

    • Few stops on long distance trips

    • Sleeping quarters

  • Rail disadvantages

    • High cost

    • Schedule

    • Can’t stop for closer inspection


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  • Bus advantages with regards to financing, insurance, safety, convenience, maintenance, and energy use;

    • Leave the driving to us

    • Low price

  • Bus disadvantages

    • Schedule

    • Traffic concerns

    • Seedy riders

    • Frequent stops


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  • Air advantages with regards to financing, insurance, safety, convenience, maintenance, and energy use;

    • Speed

    • Safety

  • Air disadvantage

    • Schedule

    • Airport locations

    • Cabin air


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  • Mass transit advantages with regards to financing, insurance, safety, convenience, maintenance, and energy use;

    • Price

    • Leave the driving to us

  • Mass transit disadvantages

    • Schedules

    • Travel companions

    • Distance to access

    • Frequent stops

    • Traffic?


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  • Walking with regards to financing, insurance, safety, convenience, maintenance, and energy use;

    • Exercise

    • Door to door transportation

    • No parking

    • No schedule

  • Walking Disadvantages

    • Travel time

    • Weather?


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  • Bicycling Advantages with regards to financing, insurance, safety, convenience, maintenance, and energy use;

    • Exercise

    • Door to door transportation

    • Low/no cost parking

    • No schedule

  • Bicycling Disadvantages

    • Travel time

    • Weather?


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  • Car Advantages with regards to financing, insurance, safety, convenience, maintenance, and energy use;

    • Relatively efficient schedule

    • Relatively convenient parking?

  • Car Disadvantages

    • Traffic

    • Cost?

    • Safety?


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Transportation Costs with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Explicit costs

  • Fixed costs

    • Depreciation

    • Lost interest on capital invested

  • Variable costs

    • Gas

    • Maintenance

    • Repairs


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  • Implicit costs with regards to financing, insurance, safety, convenience, maintenance, and energy use;

    • Social costs

    • Subsidies


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Non-economic Selection Factors with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Scheduling freedom

  • Flexibility

  • Availability

  • Convenience

  • Service

  • Value of time

  • Reliability

  • Comfort

  • Style

  • Status

  • Safety

  • Privacy


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Auto Aquisition with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • There are hundreds of new

  • Cars

  • Trucks

  • Vans and

  • SUVs

  • every year


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  • That new ‘vette you’d love to have probably with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • costs more than you can afford

  • only carries two passengers

  • only carries minimal luggage

  • guzzles gas

  • is expensive to maintain and

  • is out f the world to insure


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When “ride” shopping with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Consider

  • Typical number of passengers

  • Other items to be transported

  • Where you will drive

  • Climate where you will drive

  • How much will you drive

  • Ease of maintenance


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Options? with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • AM/FM radio or satellite

  • Side air bags

  • On Star

  • Smooth ride/steering

  • Multi-changer CD player

  • DVD player


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Can you afford it? with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Buy or lease

  • Cash or finance

  • Insurance

  • Maintenance and repair


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Where to look for new cars with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • New car dealerships

  • Buying services

  • The Internet


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New car dealers can with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Special order American cars

  • Search other dealer’s inventory

  • Negotiate prices

  • Usually offer one of the Big Three and

    one or more import


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Tell Buying Services with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • The make

  • Model and

  • Options you want and they will

  • Buy @ a rock bottom price

  • Deliver it to a dealer near you


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Buying Services also provide with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Financing

  • Leasing

  • Extended service contracts and

  • Dozens of Internet sites provide services to buying services, but

    you make the deal


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Evaluating a New Car with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Does it have the options you want?

  • Special order

  • Buy off lot – better deal

  • or let dealer locate

  • Ensure satisfactory handling,

  • driving,

  • parking (size)


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The Sticker with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Each new car sticker must include fuel economy guides for highway and

    city driving, plus an estimate for

    annual fuel cost based on a specified number of miles


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Consider Operating Costs with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Gas

  • Tires

  • Insurance

  • Maintenance

  • Repairs

  • Check out car magazines

  • Car and Driver

  • Road and Track, etc.


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Where to look for used cars with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • New car dealerships

  • Used car dealerships

  • Newspaper want adds

  • Friends and family

  • Auctions

  • Fleet discounts

  • Internet


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  • Buying a Used Vehicle: Questions to ask with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Where did it come from

  • New car dealerships - trade-ins

  • Used car dealerships – trade ins

  • Bought from individuals

  • Rental companies


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  • Company fleets with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Taxicab companies

  • Rebuilt wrecks

  • Learn the car’s history via

  • Carfax.com by inserting VIN number from front left dashboard.


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How is the Economy Doing? with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Use any source you want to, newspaper, TV, radio, parents, the internet, etc., in coming up with an answer tomorrow.

  • Multiple Choice – We are in…

    • Recovery

    • Prosperity

    • Recession

    • depression


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Evaluating Used Vehicles with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Late models may have manufacturer’s/dealer’s warantee.

  • Usually sold “As is” (WYSIWYG).

  • You’re responsible for all repairs.

  • Evaluate in daylight so bright light won’t hide defects.

  • Get a mechanic’s check and tell the owner you’re going to do it.


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  • Check for with regards to financing, insurance, safety, convenience, maintenance, and energy use;rust.

  • Check for body repairs.

  • Look around the trunk lid and doors to see if the car has been painted.

  • Check out the tires to see if they’ll need to be replaced soon (Lincoln).

  • Check the shocks by pushing down on each fender – cars should settle down quickly an not keep bouncing.


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  • Open and close all windows, doors and with regards to financing, insurance, safety, convenience, maintenance, and energy use;trunk.

  • Look at the condition of the interior to see how well the car has been maintained.

  • Make sure it has a good spare and jack.

  • Drive it on different kinds of roads and

    speeds to see how it rides, handles

    and sounds with the sound system off.


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  • Test brakes to ensure they are with regards to financing, insurance, safety, convenience, maintenance, and energy use;quiet

  • and stop the car smoothly.

  • Test all gears, including reverse.

  • Check all electrical devices:

  • Turn signals

  • Headlights, including brights

  • Radio

  • Air Heat

  • Power windows and seats


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  • Cruise with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Windshield wipers and washer

  • Get an odometer statement and talk to the previous owner

  • Inspect the title

  • If it has a salvage title, don’t buy it

  • (totaled by insurance companies and repaired by someone…anyone)


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Negotiating with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Begins with the Manufacturer’s Suggested Retail Price (MSRP).

  • Determine the true dealer cost

  • Copy all info from the window sticker

  • Use a buyer’s guide to find the actual dealer’s cost of base vehicle

    and each option.

  • Total the dealer costs to determine dealer’s invoice price.


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  • Find the dealer’s with regards to financing, insurance, safety, convenience, maintenance, and energy use;holdback in the buyer’s guide.

  • Subtract the holdback from the dealer invoice price along with rebates and dealer incentives.

  • Add the destination charges to get the true dealer cost.


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  • Add with regards to financing, insurance, safety, convenience, maintenance, and energy use;5% to the dealer invoice for fair profit and expect non-negotiable

    advertising fees of 1-3% of the sticker price to be added to the total.

  • If you have a trade-in, use a buyer’s

    guide to find its wholesale value and try not to accept that it is less

    than 5% below that wholesale value.

  • Clean it thoroughly.


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  • Make sure it is in with regards to financing, insurance, safety, convenience, maintenance, and energy use;good working condition

  • Put all paperwork in the glove box

    • Title

    • Registration


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  • Subtract with regards to financing, insurance, safety, convenience, maintenance, and energy use; the trade-in value of your vehicle from the price you’ve determined in steps 1 and 2 then add:

  • Dealer prep charges

  • Documentation fees

  • Sales tax

  • License and title fees to reach total cost


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Avoid Dealer Extras with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Rustproofing

  • Undercoating

  • Protection packages

  • Dealer added options

  • Extended warranties or service contracts

  • Dealers charge substantial markups for these unnecessary items


Buying a used car l.jpg
Buying a Used Car with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Use a buyer’s guide like:

  • Edmunds

  • Pace

  • NADA Blue Books

  • To determine the value of a vehicle they’ll give an average trade in and

    retail value as well as

    mileage adjustments


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  • Inspect vehicles as indicated before with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • After inspection, decrease the book value of the vehicle based on its condition.

  • If you have a trade-in, use a buyer’s guide to find the wholesale value

    of your trade-in and try not to accept the value that is less than 5% below the wholesale value


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  • Clean with regards to financing, insurance, safety, convenience, maintenance, and energy use; it thoroughly

  • Make sure it’s in good operating condition

  • Put all paperwork in the glove box

    • Title

    • Registration

  • Subtract the trade-in value of your vehicle from the price you determined in steps 1-3.


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Paying Cash with regards to financing, insurance, safety, convenience, maintenance, and energy use;

  • Your cost will include the

  • Negotiated price

  • Minus the trade-in value

  • Minus the down-payment

  • Plus sales tax on one or more of the following:


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  • Documentation with regards to financing, insurance, safety, convenience, maintenance, and energy use; fee

  • Destination charge

  • Preparation charge

  • License and title

  • Credit Insurance (ok if you choose it)

  • Dealer charges (avoid)


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Where to Finance becomes a matter of how much you can afford to pay each

  • The dealer

  • Commercial Banks

  • Savings and Loans

  • Credit Unions

  • Finance Corporations


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Example manufacturer’s credit

  • Example of $10,522.69 borrowed at 1.9% / 3 years = $301.79 / mo.

    x 36

    $10,864.44 amt. paid

    -$10,522.69 amt. financed

    $311.75 interest paid


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  • Where is the easiest place to get a loan from? mo.

  • The financial institution where you do the rest of your banking. If your

    income isn’t sufficient, they may still grant you a loan if you obtain a

    co-signer who guarantees repayment if

    you default.


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  • Finance companies are the lenders of current

    last resort for those who can’t borrow anywhere else. They make loans for

    used vehicles and their interest rates will be 2-3 times

    higher than other financial institutions.


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  • To borrow money, you’ll be asked to current

    sign a contract which will show

    what obligations you and the lender have including the Truth-In-Lending Disclosure Statement which we discussed in the chapter on credit.


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  • Sales include an Itemization of Amount Financed which details the terms of the sale:Tax

  • License and Title Fee

  • Credit Insurance Premiums

  • Documentation and other fees

  • Amount Financed

  • Calculate Finance Charges by looking at and comparing APRs.


Leasing l.jpg
Leasing include an Itemization of Amount Financed which details the terms of the sale:

  • Advantages

  • You can spend more time driving a

    new car

  • You have lower monthly payments

    on depreciation


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  • Disadvantages include an Itemization of Amount Financed which details the terms of the sale:

  • Substantial down payment

  • You own nothing

  • You’ll always have a car payment


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  • Use limitations include an Itemization of Amount Financed which details the terms of the sale:

  • 12,000-15,000 miles per year

  • Modifications result in big fines

  • Excessive wear and tear charges

  • Early termination fees


Closed end lease l.jpg
Closed-end Lease include an Itemization of Amount Financed which details the terms of the sale:

  • Only kind of lease you want

  • Value of the vehicle at the end of lease is established in advance

  • Any fees are spelled out in advance

  • At the end of the lease you

  • Pay any predetermined lease end fee or charges and walk away from it or

  • Buy the car for its predetermined value

  • Sell the vehicle yourself and keep the profit

  • Same as above, but make a good deal on another vehicle


Insurance l.jpg
Insurance include an Itemization of Amount Financed which details the terms of the sale:

  • Be sure to check before you buy.

  • Why?

  • Premiums can be as low as a few

    hundred dollars/year or as high as

    several thousand/year.


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The Purpose of Insurance include an Itemization of Amount Financed which details the terms of the sale:

  • Protect you from unforeseen financial loss related to your vehicle including:

  • Medical expenses for anyone involved;

  • Damage to your vehicle due to

    • Accident

    • Vandalism

    • Act of God


Insurance also covers l.jpg
Insurance also covers include an Itemization of Amount Financed which details the terms of the sale:

  • Vehicle theft

  • Compensation to others for

    • Medical expenses

    • Loss of income

    • Pain and suffering

    • Permanent injury

  • When you are at fault


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Also include an Itemization of Amount Financed which details the terms of the sale:

  • Compensation to other people for damage to their

    property when you’re at

    fault in an accident.


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Insurance coverages l.jpg
Insurance Coverages company which specifies:

  • Bodily Liability Injury – covers injury

  • to others when you are at fault and

  • provides legal defense and

  • payment of damages up to the

  • limit of liability purchased including

  • Medical expenses

  • Loss of income

  • Pain and suffering and

  • Permanent injury


Insurance required l.jpg
Insurance Required company which specifies:

  • Most states require a minimum amount of

    liability insurance before you can

    register your car to protect others against your

    negligence.


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  • Collision covers damages to the insurance

    policyholder’s car as the result of a

    collision with another car or object or if

    the car turns over. Payment is made no

    matter who is at fault. Coverage includes

    a deductible which requires the policy holder to assume a portion of the cost of the damage. Common deductibles are

  • $100, $250, and $500.


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Medical payments l.jpg
Medical Payments cost of the repairs less the

  • Covers the reasonable medical expenses of the policyholder and their family if:

  • They’re injured while riding in

    their vehicle

  • They’re injured while riding in someone else’s vehicle

  • If they’re struck by a vehicle while walking or bicycling

  • No matter who’s at fault.


Personal injury protection l.jpg
Personal Injury Protection cost of the repairs less the

  • Is mandatory in states with no-fault insurance and provides a broader form of medical coverage, including funeral costs, loss of income, and

    cost of in-home assistance regardless of who’s at fault.


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  • Glass breakage – covers insurance coversdeductible when cracked glass is replaced.

  • Rental reimbursement – while car is

    being fixed after an accident.

  • Towing insurance – after a breakdown or accident


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Factors influencing premiums l.jpg
Factors Influencing Premiums property

  • Age

  • Driving records

  • Type of vehicle

  • Where you drive

  • When you drive

  • Coverages you buy

  • Deductibles you want


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Premium Discounts property

  • Auto/Homeowner’s discount if

    both policies are carried with the

    same company.

  • Multi-car discount

  • Good driver discount

  • Passive restraint discount – air bags

  • Driver Education discount

  • Car pool discount

  • Good student discount


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Operating expenses l.jpg
Operating Expenses property

  • Argentina

    $3.04

  • Canada

    $1.80

  • England

    $3.47

  • Germany

    $4.32

  • Japan

    $3.77

  • Norway

    $5.05

  • When gasoline cost $1.28 in the USA, how much do you think it cost in:


Tires l.jpg
Tires property

  • A good all-season tire for a subcompact might cost $60-70 while a high performance tire for a sports car

    may cost you $175 or more.

  • How far and how you drive will impact how frequently you have to buy tires.


Maintain your tires l.jpg
Maintain Your Tires property

  • Check tire pressure monthly

  • Check tire treads for uneven wear and

    tread depth

  • Rotate tires every 6,000 miles

  • Drive smoothly

  • Avoid hazards like potholes.


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  • Follow periodic propertymaintenance schedule.

  • How do you know what it is?

  • Avoid extended warranties as they are not recommended by

    consumer experts.

  • Change the oil every 3,000 miles.


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Monthly Checks property

  • Oil level – when you gas up

  • Radiator coolant – when you gas up

  • Transmission fluid

  • Power steering fluid

  • Brake fluid

  • Air filter

  • Keep it washed, waxed and vacuumed.


Repairs l.jpg
Repairs property

  • Buy a car that can be maintained and

    repaired not only locally, but everywhere you anticipate

    traveling.

  • Find a mechanic who’s reliable, does

    good work at a reasonable price,

    through word of mouth. The shop should be clean, well kept and have

    modern equipment.


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Credentials property

  • Look for credentials such as American Automotive Association

    (AAA) National Institute of Automotive Service Excellence

    (ASE).


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Repair Steps property

  • Document the exact symptoms of the problem when it happens.

  • Make sure mechanic calls and explains the problem and cost

    before starting repairs.

  • Ask to see the old part.

  • Be prepared to get a second opinion if you don’t like the explanation.

  • Beware of scams.


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Just in Case property

  • Carry a cell phone or OnStar

  • Learn how to change your tires

  • Make sure you spare is good when

    your tires are rotated.

  • Carry jumper cables

    triangle reflectors or flares

    a plastic bottle in case you overheat

    an empty container for gas


Tool kit l.jpg
Tool Kit property

  • Don’t leave home without it

  • Hammer

  • Pliers

  • Flat and Philips head screw driver

  • Crescent wrench

  • Wire coat hanger

  • Duct tape

  • Flash light


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11-30-05 Headlines property

  • Consumer Confidence Up As Gas Prices Fall(BREITBART.COM - Consumer Confidence Up As Gas Prices Fall)

  • Sales of New Homes Setting Record

  • (http://www.nytimes.com/2005/11/29/business/29cnd-econ.html?ei=5065&en=cc6de7a6bcd8d048&ex=1133931600&adxnnl=1&partner=MYWAY&adxnnlx=1133319896-xeBG9cMSHDGgSzVw6VqhTA&pagewanted=print)

  • Sales Climb at Retailers on Internet(http://www.nytimes.com/2005/11/30/technology/30cyber.html?ei=5065&en=5822c59226d4d728&ex=1133931600&partner=MYWAY&pagewanted=print)


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More Recent News property

  • Business inventories fell at a $13.4 billion annual rate.

  • What does this mean?

  • the durable goods report showed an increase in sales of business equipment

  • Non-farm payrolls grew by 215,000 last month


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More Economic News property

  • low inflation (2.5%),

  • strong productivity (due to educated employees),

  • lower gasoline prices ($2.11),

  • a record setting housing market,

  • increases in consumer confidence (Consumer spending, which accounts for about 70 percent of the economy, expanded at a 4.2 percent annual pace.

  • The gain in consumer spending was paced by auto sales in July, which rose at the second-fastest pace on record)

  • and business capital investment (highest since the boom in 1985)


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  • What is the Fed going to do cycle we are in?

    with interest rates the next time it meets?

    • Keep interest rates the same?

    • Lower interest rates?

    • Raise interest rates?


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  • Reports yesterday showing higher cycle we are in?

    consumer confidence,

    new home sales and

    durable goods orders

    supported forecasts that central bankers will keep

    raising interest rates to ensure

    inflation doesn't accelerate.


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  • During 2004 when attacks on the economy were in full force, cycle we are in?

    36% of Americans thought we were in recession. Now, one year later, even though unemployment has fallen from 5-1/2 to 5% and real GDP has expanded by 3.7% the number who think a recession is

    underway has climbed to 43%.

  • Why do you think that is?


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  • "No matter what maps, no matter what data are presented, no matter which way markets move, a pall of pessimism hangs over the economy. It's amazing. When bond yields rise, it's considered bad to the

    housing market and the computer industry, but if bond yields fall and the yield curve narrows toward inversion, that's bad, too, because an inverted yield curve could signal a recession. If housing data weaken as they did on Monday when existing home sales fell, well, that's a sign of a

    bursting housing bubble.


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  • "If housing data strengthen as they did on Tuesday when new homes rose, well, that's negative because

    the fed may raise rates further. If foreigners buy our bonds, we're not

    saving enough ourselves. If foreigners don't buy our bonds

    interest rates could rise. If wages

    go up, inflation is coming. If wages

    go down, the economy is in trouble.


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  • Count every "F" in the following text: of petroleum products which could drive the cost of heating oil in the northeast up.

  • FINISHED FILES ARE THE RESULT OF YEARS OF SCIENTIFIC STUDY COMBINED WITH THE EXPERIENCE OF YEARS


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