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Chapter 17

Chapter 17. Buying and Owning a Vehicle. For Your Quiz. You should be able to explain the following: List and explain the different types of insurance coverages available List the three types of insurance required by the State of Illinois for driving

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Chapter 17

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  1. Chapter 17 Buying and Owning a Vehicle

  2. For Your Quiz • You should be able to explain the following: • List and explain the different types of insurance coverages available • List the three types of insurance required by the State of Illinois for driving • List the factors used in determining your insurance premiums • Define premium • Define deductible • List and explain the four major expenses involved in purchasing a vehicle

  3. Buying a Vehicle • Can you afford it? • Consider: • Purchase Price • Depreciation • Financing • Other Costs

  4. Other things to consider • Vehicle Size • Engine Size and Types • Transmission • Optional Equipment

  5. Leasing a Vehicle • Leasing • Things to consider: • Contract length and terms • End of lease options • Return and lease • Purchase • Return with no obligations

  6. Buying a Used Vehicle • Private vs. Dealer • How much should you pay? • NADA Bluebook • Kelley Bluebook • Choosing a vehicle • CARFAX • Vehicle “Walk-around” • Test Drive • Closing the Deal

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