Car Buying Assignment

In this assignment, we will learn how to buy a car and
figure out whether it is priced at or below market value.

First, you need to decide on your budget which is the
maximum you can spend on a car and that maximum number should take into
consideration price, tax, registration, and fixing if needed. (5 points)

Second, go to a web site such as cars.com and search for a
car in within your budget constraint. (5 points)

Third, go to a web site such as the one for the Kelly Blue
Book, and find out whether the car is at market value, overpriced, or
underpriced.

Finally, write a two page paper discussing your findings and
issues to explain or discuss:

• Explain
your choice. Why did you select the car
that you identified? What are three different prices the Kelly Blue Book
provides? (10 points)

• Based on
Kelly Blue Book prices, is the car over or underpriced? (5 points)

• Did you
have any surprises, prior experience, feedback, thoughts, and so on? (5 points)

• Referring
to the car that you selected, discuss the insurance decisions you will need to
make. What type of coverage will you need? What is the minimum amount of
coverage you will need (based on your state of residence) and what amount of
coverage would you actually like to have? Are there any actions you can take to
reduce your premiums? Address these questions, taking into account your current
budget and financial status. (10 points)

Also:

Spelling/Grammar (5 points)

References – (5 points)

Total = 50 Points

Deliverable Points

Establish a Budget/Maximum Expenditure 5

Identify a Car Within Budget 5

Explain Choice/Compare Prices 10

Pricing Assessment 5

Discussion/Feedback on Results 5

Insurance Review Discussion 10

References 5

Spelling/Grammar Standards Followed 5

TOTAL 50

ScholarMatic: Explanation & Answer

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