Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Life Hack - Buying a Used Car

3,409 views

Published on

This is our class presentation for Army personal who are in the market for used cars.

Published in: Automotive
  • (Unlimited)....ACCESS WEBSITE Over for All Ebooks ................ accessibility Books Library allowing access to top content, including thousands of title from favorite author, plus the ability to read or download a huge selection of books for your pc or smartphone within minutes ......................................................................................................................... DOWNLOAD FULL PDF EBOOK here { https://urlzs.com/UABbn } ......................................................................................................................... Download Full EPUB Ebook here { https://urlzs.com/UABbn } ......................................................................................................................... Download Full PDF EBOOK here { https://urlzs.com/UABbn }
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • DOWNLOAD FULL BOOKS, INTO AVAILABLE FORMAT ......................................................................................................................... ......................................................................................................................... 1.DOWNLOAD FULL. PDF EBOOK here { https://tinyurl.com/y8nn3gmc } ......................................................................................................................... 1.DOWNLOAD FULL. EPUB Ebook here { https://tinyurl.com/y8nn3gmc } ......................................................................................................................... 1.DOWNLOAD FULL. doc Ebook here { https://tinyurl.com/y8nn3gmc } ......................................................................................................................... 1.DOWNLOAD FULL. PDF EBOOK here { https://tinyurl.com/y8nn3gmc } ......................................................................................................................... 1.DOWNLOAD FULL. EPUB Ebook here { https://tinyurl.com/y8nn3gmc } ......................................................................................................................... 1.DOWNLOAD FULL. doc Ebook here { https://tinyurl.com/y8nn3gmc } ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... .............. Browse by Genre Available eBooks ......................................................................................................................... Art, Biography, Business, Chick Lit, Children's, Christian, Classics, Comics, Contemporary, Cookbooks, Crime, Ebooks, Fantasy, Fiction, Graphic Novels, Historical Fiction, History, Horror, Humor And Comedy, Manga, Memoir, Music, Mystery, Non Fiction, Paranormal, Philosophy, Poetry, Psychology, Religion, Romance, Science, Science Fiction, Self Help, Suspense, Spirituality, Sports, Thriller, Travel, Young Adult,
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • DOWNLOAD FULL BOOKS, INTO AVAILABLE FORMAT ......................................................................................................................... ......................................................................................................................... 1.DOWNLOAD FULL. PDF EBOOK here { https://tinyurl.com/y8nn3gmc } ......................................................................................................................... 1.DOWNLOAD FULL. EPUB Ebook here { https://tinyurl.com/y8nn3gmc } ......................................................................................................................... 1.DOWNLOAD FULL. doc Ebook here { https://tinyurl.com/y8nn3gmc } ......................................................................................................................... 1.DOWNLOAD FULL. PDF EBOOK here { https://tinyurl.com/y8nn3gmc } ......................................................................................................................... 1.DOWNLOAD FULL. EPUB Ebook here { https://tinyurl.com/y8nn3gmc } ......................................................................................................................... 1.DOWNLOAD FULL. doc Ebook here { https://tinyurl.com/y8nn3gmc } ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... .............. Browse by Genre Available eBooks ......................................................................................................................... Art, Biography, Business, Chick Lit, Children's, Christian, Classics, Comics, Contemporary, Cookbooks, Crime, Ebooks, Fantasy, Fiction, Graphic Novels, Historical Fiction, History, Horror, Humor And Comedy, Manga, Memoir, Music, Mystery, Non Fiction, Paranormal, Philosophy, Poetry, Psychology, Religion, Romance, Science, Science Fiction, Self Help, Suspense, Spirituality, Sports, Thriller, Travel, Young Adult,
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • How to Grip Her Attention - Unlock Her Legs ★★★ http://ishbv.com/unlockher/pdf
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Nice !! Download 100 % Free Ebooks, PPts, Study Notes, Novels, etc @ https://www.ThesisScientist.com
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

Life Hack - Buying a Used Car

  1. 1. Life Hack: Buying a Used Car © Wise Rides 2015 Presented by Drive. Smart! ™
  2. 2. First Let’s Understand Inflation A house purchased in 30 years ago for $100,000 A house sold in today sold for $220,000 What is the profit? ZERO Why? INFLATION!
  3. 3. Understanding Car Depreciation – A NEW CAR New Car- $ 33,650 1 Minute (.09) - $3,163 1 Year (28%) - $7,740 2 Year (20%) - $6,730 3 Year (16%) - $5,384 4 Year (8%) - $2,692 5 Year (6%) - $2,019 6 Year (5%) - $1,682 Total 6 Year LOSS – $26,247 Car value loses 80% in 6 Years
  4. 4. Understanding Your Total Driving Cost Based on AAA 2014 Annual Survey $0.46 per Mile $6,956 per Year $0.61 per Mile $9,151 per Year $0.75 per Mile $11,248 per Year $0.77 per Mile $11,599 per Year $0.65 per Mile $9,795 per Year Life Hack: Walk before ride and ride before you buy!
  5. 5. What You Can Expect for Loan Terms Good credit 4% and risk up to 8.7%... But we hear war stories more than 20%! As long as the dealer discloses the interest: IT IS LEGAL! A longer term with smaller payments is ALWAYS going to cost you MORE!
  6. 6. How Interest Rate Effect YOU! Loan Rate Payment Interest Paid Total Spent 10,000$ 4% 184$ 1,050$ 11,050$ 10,000$ 6% 193$ 1,599$ 11,599$ 10,000$ 8% 202$ 2,165$ 12,165$ 10,000$ 10% 212$ 2,748$ 12,748$ 10,000$ 12% 222$ 3,346$ 13,346$ 10,000$ 14% 232$ 3,960$ 13,960$ 10,000$ 16% 243$ 4,590$ 14,590$ 10,000$ 18% 253$ 5,236$ 15,236$ 10,000$ 20% 264$ 5,896$ 15,896$
  7. 7. Pay Grade vs. Debt Rank based on realistic promotion timeline (E5 at 3 years, E6 at 4 years, E7 at 10 years). Car expense should be no more than 25% of net income (15% to payment and 10% for maintenance). Rank Pay Recommend Max Payment Maintenance Budget Total Auto Spend E-1 $1,546 $231.90 $154.60 $386.50 E-2 $1,734 $260.10 $173.40 $433.50 E-3 $1,823 $273.45 $182.30 $455.75 E-4 $2,019 $302.85 $201.90 $504.75 E-5 $2,464 $369.60 $246.40 $616.00 E-6 $2,876 $431.40 $287.60 $719.00 E-7+ $3,747 $562.05 $374.70 $936.75 Life Hack: Don’t let car payments define your life!
  8. 8. Other Finances to Consider Before a car • Food • Cell • Cable • Clothes/Haircuts • Entertainment • Savings • Child Support • Toiletries • Smoker? • Drinks? • Credit Cards/Loans After a Car • Gas • Insurance • Tax, title, and delivery fees • Car Maintenance • Registration and emissions
  9. 9. Other Financial Pitfalls to Avoid Pitfalls • Payday & Title Loans – over 70 companies in the Killeen market • Rent to Own – over 20 companies in the Killeen Market • Pawn Shops – over 22 companies in the Killeen Market • BAH/BAS mishandling If you pay in cash your credit score is irrelevant!
  10. 10. Financial Support and Resources Safer alternatives: • Army Emergency Relief - (254) 287-8908/8979 ATTN: AFZF-MWR-ACS-AER/Bldg. 121 761st Tank Battalion Avenue Fort Hood • Army OneSource • Army Community Service • Consumer Affairs • Solicitation Office • Consume Affairs and Financial Assistance Program(CAFAP) • Command Financial Specialist
  11. 11. The Hard Math… Remember the guidelines? What is your needed down payment? (and that’s assuming you have an above average credit score!)
  12. 12. The Hard Math… As a E-3 you would need to put $16,750 or about 52% Down!
  13. 13. Group Discussion Car Buying War Stories
  14. 14. Thank you! www.facebook/wiserides @WiseRides Drive. Smart! ™ www.wiserides.com info@wiserides.com

×