Personal Finance III-Unposted Slides

Personal Finance III-Unposted Slides - BusinessManagement201

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Business Management 201 Personal Finance III Cars, Homes & Self Sufficiency
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Personal Finance  Personal Finance  III III
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Fortify Your Financial House
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Buying a Car Buying a Car
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5 Tips to      Car’s Resale Value 1) Buy a car that holds its value. Use car pricing site (Kelley Blue Book  or NADA) to research resale history  of car models you are considering.  [Toyota, Honda, Mercedes, Lexus  always hold value well.]  Choose options (sunroof, air  conditioning, power windows/seats,  etc) that increase desirability even if  they are not on your personal must- have list. Source: http://cars.about.com/od/adviceforowners/a/ag_inc_resale.htm
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2) Follow the maintenance schedule and  keep all receipts. Maintenance schedule is in back of owner’s manual. Car Tires:  Buy a complete set of the same brand for  both safety and to maintain car resale value. Tire Tread:  1/16 inch of tread minimum using  tread depth gauge or “penny test.” Penny Test:  Insert penny into the tread groove with  Lincoln’s face showing.  If you are able to see all of Lincoln’s  head, the tire needs to be replaced.  Perform test on all four  tires.  Excessive wear on both the outer edges or in the  center means over-inflation.  Cupping or dipping of certain  tread sections could indicate wheel misalignment or  suspension problem. 5 Tips to      Car’s Resale Value Sources: http://cars.about.com/od/adviceforowners/a/ag_inc_resale.htm http://www.nadaguides.com/cars/Car-Tips-and-Articles/Prepping-your-car-for -sale 
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2) Follow the maintenance schedule and  keep all receipts. Maintenance schedule is in back of owner’s manual. Car Tires:  Buy a complete set of the same brand for  both safety and to maintain car resale value. Tire Tread:  1/16 inch of tread minimum using  tread depth gauge or “penny test.” “10 Second Rule” for Idling Info to Provide Potential Buyer: 5 Tips to      Car’s Resale Value Sources: http://cars.about.com/od/adviceforowners/a/ag_inc_resale.htm http://www.nadaguides.com/cars/Car-Tips-and-Articles/Prepping-your-car-for -sale  Checklist of Used Vehicle Maintenance Documentation 1. Fluid change documentation 5. Engine service documentation 2. Tire rotation records 6. Car detailing receipts 3. Paint or body shop receipts 7. Inspection reports 4. Engine repair paperwork 8. Smog check verification
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3) Don’t crash! If car is in collision, use an experienced  repair shop with a good reputation and  insist on using factory (i.e. Original  Equipment Manufacturer or OEM)  parts.   Save all receipts and be up front and  honest about any collision repair work  when it is time to sell or trade.
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This note was uploaded on 01/06/2012 for the course BUS M 201-1 taught by Professor Jennlarson during the Fall '11 term at BYU.

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Personal Finance III-Unposted Slides - BusinessManagement201

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