Chapter 8: Automobiles and Other Major Purchases. Understand several guidelines to save money on major purchases. Employ the three steps in wise buying that occur prior to interacting with sellers. Comparison shop when buying or leasing vehicles and other major purchases. Objectives.
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Understand several guidelines to save money on major purchases.
Employ the three steps in wise buying that occur prior to interacting with sellers.
Comparison shop when buying or leasing vehicles and other major purchases.
Negotiate effectively and make intelligent decisions when undertaking major expenditures.
Evaluate your purchase decisions as a guide for future behavior.
Price and gas payment
Insurance and inspection
Get estimate in advance
Ask how long repairs will take
Get claim check
Ask to be given all replaced parts
Be available when at-home repairs are made
Get written receipt
Compare actual costs
Consider opportunity cost of rebate
Add opportunity cost of foregone rebate to finance charge of dealer financing
Decide on features and options
Decide how much to spend
Select makes/models in price range
Check selection carefully
Negotiate and decide
Buy used vehicles
Buy used vehicles from private owners
Visit dealerships at least three times
Negotiate price first
Use up your vehicles