It's Almost the End of the Quarter ---- These Are My Grades! Eek!!!

Carrer & Financial Planning
-77%
- 3 missing assignments

Math
-100%
-0 Missing Assignments

Language Arts
-91%
- 3 Missing Assignments

How to Finance a Car

1. What are the three instances when paying cash is a good idea when purchasing a car?
-The three instances when paying cash is a good idea when purchasing a car are

If you could pay more interest by financing that amount of money than you could earn if you invested it or kept it in a savings account of some sort

If you don't have a very good credit rating and would have to pay a high interest rate to finance (more on this later)

If you have a lot of debt already but enough cash on hand, and don't want to further damage your credit rating
2. List the five ways that you can finance your car.

-The five ways that you can finance your car are by dealership, bank or credit union, online financial instititution, home equality union, or from a family or friend.
3. Which way do you think is the best to finance your car? Explain your answer in 1-2 complete sentences.
-I think the best way to finance your is by bank or credit union. I decided on this becomes there will be more pros from financing with a bank or credit union than with anything else and you may receive more help.
4. What information is gathered from your credit history and credit score?
-The information that is gathered from your credit history and credit score are your many habits, how you spend money, and how reliabe you are.
5. What has a higher rate? New or used cars?
-A used car has a highter rate.
6. Explain why you must negociate when you purchase a car from the dealer.
-You negociate when you prchase a car from the dealer because you want to reveal the mark-up.
7. Explain three reasons why getting 0% APR is much harder than advertised.
-Three reason why getting 0% APR is much ahrder than advertised are

•  You may not have the qualified credit score.
• May be limited to buy from the lot with the appliances you want in it
• You lose cash rebate

8. What are the five things you need to pay attention to when getting a car at the dealership?
-Five things you need to pay attention to when getting a car at the dealership are

• Interest rate, term of the loan, down payment, rebates, and monthly payments
• Extended warranties
• Rust protection, undercoating, fabric protection and paint protection
• Alarm systems and window etching
• Insurance

9. What are the four things for Buyer Beware? Explain EACH.
-The four things for Buyer Beware are

• Spot delivery-A dealer does not make a final contract with you and just tells you the amount for your monthly payment and send you off with your car. Then they call you back and have you pay more on your down payment
• Additional Dealer Markup (ADM-They are charges that include stuff such as  rust proofing, undercoating, VIN etching, as well as dealer prep and other fees. Also, bargain on the prices. The prices the dealers say are not always the exact price you should pay.
• Credit reports even if you're paying cash?- Never let anyone run your credit score because it may decrease your score. You should only let someone run your credit score when you think you're going to be financing with them.
• How much is the total financed amount?- You should make sure that  your down payment, trade-in, and rebates are being applied to the sale price of the car accurately