Purchasing+a+Vehicle

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Getting your first car!!
That exciting time in your life, getting your driver's license...the true mark of freedom and adulthood! But, are you ready for all that owning a car entails? Do you know what all goes into buying and maintaining a car? Sure, the car looks cool, but can you afford the insurance? This unit will help you to understand what car ownership truly means. Complete each activity step by step by following the given directions and using the provided materials/sources.


 * Tasks to Accomplish: **

Shopping for a vehicle
Gather information and conduct real-life research as you shop for //**two different**// vehicles (one new and one used) of your choice that you would reasonably consider purchasing as a young adult. You must check various sources including at least two auto dealerships and two internet sites. Use this form to keep track of your research. Make sure to save a copy in your Google Drive and share it with Carrie.

Financing a vehicle
Unless you and/or you parents have worked hard and saved money for your first car, you are probably going to have to go through the process of financing your vehicle. Using the Internet, banks, and credit unions research the terms to financing your chosen new and used vehicle. You must record information for at least four different lending companies. Use this form to keep track of your research. Make sure to save a copy in your Google Drive and share it with Carrie. To help you see how the down payment and interest rate effect the overall price of your vehicle, complete the Auto Amortization Schedule. Make a copy of the form for each of your vehicles and share it with Carrie.

Auto Insurance
First, read a short pdf document about auto insurance, found below, and complete the Automobile Insurance Terminology to make sure you understand the different types of coverage available. Once you have completed the terminology page, you will need to get actual quotes for your vehicles. Call an agency or get a quote online from three (3) insurance companies. Keep your information on this page, be sure to make a copy of the form and share it with Carrie when completed.

Auto operating expenses
Finally...you own your vehicle and it is properly insured, are you going to be able to afford to drive it out of the driveway? Have you licensed the vehicle? Can you afford the gas it is going to take to get from home to school? What are you going to do when you run over a nail and your tire explodes? There are a lot of unexpected expenses that come with car ownership. Hopefully you can save some money for those unexpected expenditures, but there is also the continual maintenance of oil changes, tire rotations, etc. How much to do they cost? Using this form, pick one of your vehicles, either the new or the used, and budget for the daily operating expenses. How much is it going to cost you to operate your car? Remember to make a copy of the form and then share it with Carrie when completed.

Final report
Now that you are an expert on all that entails making a vehicle purchase you need to show me all you have learned about the process and the cost. You must write a two-paragraph essay on your blog, reflecting on all you have learned and the plans you have for your future car purchase.