How long does the average american use a new car before buying a new one
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How long does the average American use a new car before buying a new one? PowerPoint PPT Presentation


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How long does the average American use a new car before buying a new one?. 5 years. Shopping for a Car. Unit 9. New or Used?. Benefits of buying new More reliable than a used car (usually) Lasts longer than a used car (usually) There’s no history You know what you’re getting

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How long does the average American use a new car before buying a new one?

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How long does the average american use a new car before buying a new one

How long does the average American use a new car before buying a new one?

5 years


Shopping for a car

Shopping for a Car

Unit 9


New or used

New or Used?

  • Benefits of buying new

    • More reliable than a used car (usually)

    • Lasts longer than a used car (usually)

    • There’s no history

      • You know what you’re getting

    • Customization options

      • Get it exactly how you want it

    • Could be safer than a used car

      • Newer safety technology


New or used1

New or Used?

  • Benefits of buying used

    • CHEAPER!

    • Less depreciation than a new car

      • A new car loses 11% of its value the moment you drive it off the lot

      • During the first 5 years, the car depreciates between 15% and 25% each year

      • After 5 years, the car has lost 63% of its value

    • Could be just as reliable, safe, and last just as long as a new car


Used car private or dealership

Used Car: Private or Dealership?

  • Benefits of buying from a private owner

    • Cheaper

      • Owner probably isn’t trying to make a profit

  • Benefits of buying from a dealership

    • Might offer warranty

    • Certified used cars are thoroughly checked


Lemon laws

Lemon Laws

  • Protect you if you buy a REALLY bad car

    • If your breaks down and cannot be fixed after 4 repair attempts, it is considered a “lemon”

    • You are entitled to a full refund or replacement at the manufacturer’s expense

  • Usually only apply to new cars, not used

    • Some states do have used-car lemon laws (not IN)


Research

Research

  • Ways to research cars

    • Online

      • Edmunds.com, kbb.com (Kelly Blue Book), cars.com, etc

    • Car review magazines

    • Word of mouth

      • Ask around

    • Test drive

      • How does it sound? How does it feel?

    • Have a mechanic look at it (especially used cars)


Quick review

Quick Review

  • What might be some reasons why you would NOT want to buy a new car?

    • Depreciation, more expensive

  • Why might it be a better idea to buy a used car from a private owner?

    • Get it cheaper

  • If you buy a new car with a lot of defects, what protections are in place to make sure you aren’t getting stuck with a piece of junk?

    • Lemon Laws

  • True or False: Car manufacturers have made it difficult to research for cars when you are shopping


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