Consumer amp Corporate Education Service Alberta February 1 2019 In The Drivers Seat Agenda Choosing Your Vehicle 2 What To Check Who Is Selling How To Purchase More Info What About Insurance ID: 1021098
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1. A Reality Choices ModuleConsumer & Corporate Education – Service AlbertaFebruary 1, 2019In The Driver’s Seat
2. AgendaChoosing Your Vehicle2What To CheckWho Is Selling?How To PurchaseMore InfoWhat About Insurance?Warranty & RepairsLeasing a Vehicle
3. Choosing Your Vehicle3
4. 4
5. Do I need a vehicle?Buy or lease?What to check?Can I return it?Can I end a lease early?Which mechanic?How much insurance?5
6. High-end or low-end?Make / model / year / horsepower / mileage that’s right for youHow much can you afford?Calculate the long term costs:Payments, taxes, interest, feesYearly costsDaily operating expensesMaintenanceFuel Consumption GuideInsuranceChoosing Your Vehicle6
7. 7
8. What You Need To Check8
9. Check the conditionConsult a mechanicCheck the odometerGet a VIR9
10. Date and TimeVehicle DescriptionVehicle StatusVehicle RegistrationLicence Plate ClassificationLien InformationOdometer ReadingsVehicle Information Report (VIR)10
11. Someone owes moneyPersonal Property Report (at an Alberta Registry)Don’t trust what you’ve been given11Check for liens!
12. What To Check12
13. Shop around!Test drive the vehiclesProtect your test-drive depositNo cooling-off periodCheck the seller’s policyRead everything before signingWhat To Check13
14. Who Is Selling?14
15. Check out their reputation firstCheck the BBBCheck with AMVICRead their websiteDon’t feel obligatedBuying From A Dealer15
16. Most private sales are “as is”Troubles? You may be on your ownNot regulated by the Consumer Protection ActGet the vehicle checked outAsk for recordsAlberta Registries: Bill of SalePrivate Sales16
17. Selling cars you won’t wantGet it checked! (mechanic, VIR)Report them to AMVIC17Watch Out For Curbers
18. Owned privately, sold by dealerStill need to get it checkedCheck out AMVIC’s website18Consignment
19. Date of saleYour name & addressCar’s year, make, modelSerial numberOdometer readingPrice & payment methodList of problemsWarranty info19Get A Receipt!
20. How To Purchase20
21. Shop like you would shop for the vehicleCheck out various financial institutionsWatch your personal debt21Buying On Credit
22. Description of vehicleSelling priceDown payment / trade-inBreakdown of all costsCredit charge ($)Annual interest ratePayment amount, number and datesPotential additional chargesBuying On Credit: Disclosures22
23. ֍ Make sure you are satisfied ֍ Bring someone to help you out ֍ Read it thoroughly first ֍ Get your own copy23Offer To Purchase
24. Type of agreement (purchase or lease)Complete vehicle descriptionVINOptional featuresComplete price, plus info on depositWarrantyAny other key statementsTrade-in infoFor used: repairs & alterationsOffer to Purchase24
25. Leasing A Vehicle25
26. Learn the jargonWatch for additional charges when returning the vehicleEarly termination can be expensiveYou’ll never have equityMonthly payments + GSTFirst payment and deposit upon deliveryFull disclosure is required:Leasing Tips26Capitalized costsCash downAPRLease termMonthly paymentResidual valueExcess km chargesDocumentation feesOpen/Closed lease
27. Closed-End LeaseOpen-End LeaseYou pay the difference between retail value at lease-end and residual valueIf vehicle is worth less than retail, you pay the differenceIf vehicle is worth more, you get the differenceAsk how retail and residual values are determinedNo more payments at the end of the leaseKilometer charge if you go overReturn, buy, or lease again27
28. 28Compare costsAsk about fees / km limitsRead the contract!If it’s used, get it checked out.You are responsible for maintenance & insurance
29. 29EndingA Lease
30. Warranty & Repairs30
31. New = Warranty | Used = …maybe?If it’s used, is there still a manufacturer’s warranty?Make sure it’s in the agreementWhat are your responsibilities?Extended / Third-Party Warranties5 years old or newer and you have a dispute?Warranties31
32. 32Vehicle Maintenance & Repairs
33. Get a written estimateCompare pricesGet warranty coverage detailsAsk them to hang on to the partsKeep the documentsMaintenance & Repairs33
34. What About Insurance?34
35. 35Insurance BasicsMust have proof to registerMinimum $200,000 CoverageRecommended to have $1,000,000Collision coverage is optionalSometimes more insurance is mandatoryComparison shop
36. Accidents and tickets can increase costsSome vehicles are more expensive to insureWhere you live can affect the costLow-risk drivers get rewardedInsurance36
37. More Information37
38. Consumer Reportswww.consumerreports.org/cro/index.htmThe Automobile Protection Associationwww.apa.caMore Information38Consumer Contact CentreEdmonton: 780-427-4088Toll-Free in Alberta: 1-877-427-4088Alberta Motor Vehicle Industry Council (AMVIC)Edmonton: 780-466-1140Toll-free: 1-877-979-8100http://www.amvic.orgCanadian Automobile Associationhttp://www.caa.caInsurance Bureau of CanadaEdmonton: 780-423-2212Toll-Free: 1-800-377-6378www.ibc.caAlberta Insurance Council (AIC)Edmonton: 780-425-5745Calgary: 403-233-2929www.abcouncil.ab.ca
39. Canadian Automobile Dealers Association1-800-207-0685http://cada.caCanadian Motor Vehicle Arbitration Plan1-800-207-0685 / http://camvap.caFuel Consumption Guidewww.nrcan.gc.ca/energy/efficiency/transportation/21002More Information39Better Business Bureau (BBB)North: 780-482-2341 / 1-800-232-7298www.edmontonbbb.orgSouth: 403-517-42222 / 1-800-661-4464www.Calgary.bbb.orgEdmonton: 780-427-7013Toll-Free: 310-0000, then 780-427-7013www.servicealberta.gov.ab.ca/find-a-registry-agent.cfmLemon-Aid Car Guideswww.lemonaidcars.comWhat To Do After An Auto Collisionhttps://finance.alberta.ca/publications/insurance/automobile-insurance/automobile-collision.html
40. Questions?