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cons30S Vehicles - Buying A New Vehicle

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  • 1. BUYING A NEW VEHICLE
  • 2. When you purchase a NEW vehicle from a  dealer, there are a lot of quot;termsquot; that are thrown  around during the conversation. If you don't have a good idea of what they mean,  you might get convinced to spend much more than  you had planned, and might end up with  something you don't need.
  • 3. BASE PRICE: The basic cost of a vehicle with  standard equipment. DOCUMENTATION FEE: The amount you pay the dealership for doing all the  paperwork involved in purchasing your vehicle. (this is a MAJOR rip­off!!!!)
  • 4. FREIGHT CHARGES: The cost of transporting your vehicle from  another place to the dealership. OPTIONAL EQUIPMENT: quot;Extrasquot; on your vehicle.  Can be anything from a  dvd player, GPS, power sunroof, heated seats, ...etc.
  • 5. PREFERRED EQUIPMENT PACKAGE: A set of optional equipment that can be bought as an  quot;entire packagequot; for a discounted price. TRADE­IN ALLOWANCE: The amount the dealership will pay you for your  vehicle if you are considering trading it in for value.
  • 6. STICKER PRICE: This price includes ONLY: * BASE PRICE * ALL OPTIONS * FREIGHT * AIR CONDITIONING TAX.
  • 7. EX You are going to buy a new 2009 Honda Civic.  The base price is $37,430.  You add on an  options package that costs $2358 plus automatic transmission for $780 and a dvd player  for $1500.  Freight on the vehicle is $550.  The dealership will give you a trade­in  allowance of $1600 on your old vehicle.  The documentation fee is $130 and you live in  MB.  What is the  total cost of the vehicle? (MAKE SURE THE STICKER PRICE IS STATED CLEARLY, somewhere in your answer and you label each line of work.) BASE PRICE $37,430 OPTIONS (2358 + 780 + 1500) $4,638 FREIGHT CHARGE $550 STICKER PRICE (37,430 + 4,638 + 550) $42,618 __________________________________________________________ DOCUMENTATION FEE ( + 130) $42,748 LESS TRADE­IN ( ­ 1,600) $41,148 PST & GST  (* 0.14) $5,760.72 ___________________________________________________________ TOTAL (41,148 + 5,760.72) $46,908.72
  • 8. HOMEWORK pg.163; 2,3,5­7

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