- Budgeting
- Cash Management
- Consumer and Mortgage Loans
- Debt and Debt Reduction
- Time Value of Money 1: Present and Future Value
- Time Value of Money 2: Inflation, Real Returns, Annuities, and Amortized Loans
- Insurance 1: Basics
- Insurance 2: Life Insurance
- Insurance 3: Health, Long-term Care, and Disability Insurance
- Insurance 4: Auto, Homeowners, and Liability Insurance
- The Home Decision
- The Auto Decision
- Introduction
- Determine How a Car Fits into Your Financial Plan
- Understand Key Issues of Auto Ownership
- Understand How to Buy or Lease a New Car and Understand the Lease Versus Buy Decision
- Understand the Challenges of Buying a Used Vehicle
- V. Understand the Special Challenges of Leasing
- Summary
- Assignments
- Family 1: Money and Marriage
- Family 2: Teaching Children Financial Responsibility
- Family 3: Financing Children’s Education and Missions
- Investments A: Key Lessons of Investing
- Investments B: Key Lessons of Investing
Understand the Challenges of Buying a Used Vehicle
There are many questions you should ask yourself before you buy a used car. These questions include the following:
- Can I afford this car?
- Will this car fit into my monthly budget?
- Is this car a want or a need?
- Does this car meet my current driving needs?
- What type of driving do I do?
Make sure you are shopping for a car that will meet not only your current needs but also your future driving needs. Consider how you will feel about this car a year from now or several years from now. Will your family be growing or shrinking? What extra features do you want your car to have? What about gas mileage? Do you want two doors or four doors? What safety features are important to you?
While the process of shopping for a used car is similar to the process of buying or leasing a new car, this next section will address additional aspects of purchasing a used vehicle: locating, evaluating, negotiating, and financing the vehicle.
