Test Feb. 24 Flashcards
Small Essay:What are the different types of ways to purchase a car?
- Fund approach- you have a plan to save money over a period of time (usually 10 months)
- Bank Loan- getting money from the bank, but beware of high interest costs and don’t buy the service package. Can lead to trading in underwater, meaning you trade in a car for less money than you owe on a car, which leads to interest.
- Lease- a contract by which you pay for your car
- Brand New
Small essay: gender patterns, what are the differences?
There are usually two very different people, a saver and a spender. Men don’t wanna put $1,000 in bank, are competitive, don’t want an emergency fund, sometimes ties their money to their own self esteem, money is business, and sees income like a score cars. Women will be more apt to have savings (especially with kids), gets more scared with money trouble, wants to feel safe, money=relationship. Now we have 2 equal teammates compared to past generations.
Small Essay:Bargains and Tactics. What are the rules? What are the keys to bargaining?
Always get a good deal. The rules are: good deal or walk, no hardship it’s a win/win deal, and sales people need you more. The keys to bargaining are that you need to (1) negotiate everything and (2) know where to look.
(1) don’t negotiate with corporate places and don’t fully show your hand. Try places like E-bay, Amazon, Aunction, and Craig List.
(2) Places like farmers market, garage/estate sales, repo, foreclosures, pawn shops, and conventions.
