1 / 10

# Buying a Car - PowerPoint PPT Presentation

Buying a Car. Grade 11 Workplace Math. Agenda. Taxes on cars Buying a used car (Private &amp; Dealer Buying a new car Financing . Taxes. In Ontario, buyers pay tax when they purchase a car.

I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

Math

Agenda
• Taxes on cars
• Buying a used car (Private & Dealer
• Financing
Taxes
• In Ontario, buyers pay tax when they purchase a car.
• We used to only pay PST on a used car and PST and GST on a new car, but now we pay HST whether a car is used or new.
Financing
• When people purchase a car by borrowing money we call it purchasing by financing.
• If Howard borrows \$33,000 to buy his BMW. What would the total cost of his car be if he planned to pay off his car in 4 years, at 4% interest?

How much would he pay in interest?

Dealer Vs. Private
• We can purchase a new or used car through a dealer, which a company that has a license to sell cars.
• Alternatively we can buy cars through individuals, which is known as a private sale.
Depreciation
• The decrease in value of something over time is called depreciation.
• What are three things that decrease & increase the value of a car?
• If something increases in value over time, it________________________.
Examining Depreciation
• Complete the table on page 187.
• What is the value of the car after 5 years if it depreciates 20% per year?