...Buying My First Sports Car Joel Wood Communications 170 03/19/2012 Rhonda Herb Going fast has been something I have loved all my life. All thru out my child hood I dreamed of getting myself a brand-new sports car. Both the GM Corvette and the Dodge Viper are both absolutely awesome options for such a decision. Even with both being so great it still took me doing a lot of research of both my personal situations and the different options that each vehicle offers to allow me to narrow it down to one. They both offer such a precision vehicle that it literally took going into much greater detail with the vehicles just to make the final decision. With all that being said I will further this story by elaborating why the GM Corvette is an all-around better buy for one in a similar condition as myself. The biggest thing I took into consideration was the overall performance of the vehicles, especially since we are talking sports cars. The Dodge Viper comes with and engine that uses ten cylinders which equals massive performance but it is also a whole lot more maintenance and up keep. The GM Corvette only offers 8 cylinders in which is obviously two less but, even with only eight cylinders it still offers massive amounts of horse power. Obviously the added two cylinders of the Dodge Viper will offer more performance but with more performance also comes a lot more money spent. The added price variation just for a little bit...
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...decisions are life altering. Should we buy a house? Should I look for a new job? Or what type of car should I buy? Those type of questions take a little more time and effort to come to the most solid conclusion. When faced with a challenging decision a person enabled with critical thinking skills will form a better overall outcome. “Sometimes, the simple act of setting out your problem, objectives, alternatives, consequences and tradeoffs, as well as any uncertainties, risks or linked decision factors, will fully clarify the decision, pointing the way to the smart choice.” (Hammond, Keeney, Raiffa, p. 13) Critical thinking ensures that decision making is seamless. Vehicle Shopping About a year ago I was...
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...Purchase Risk Assessment PROJ 595 – Project Risk Management Introduction Major life decisions should never be taken lightly. The only major life decision that I have ever made was buying my first car. When it comes to buying a car there are always a slew of risks that come with it. There were many things to consider here before even going out to visit the dealerships. First would I buy the car new, if so which car maker would I go with, each car maker has their own risks that come with buying their car. Or would I go the used route and tackle all the risks that come with buying a used car. I also needed to consider which route would be cheaper for me in the long run. In the end I ended up buying a new car despite the known risks and the sneaky unknown risks that snuck up on me. Risk 1 – Insurance One the biggest risk that people should look at when buying new, which I unfortunately did not do, is to see how much of an increase it will add to your insurance. Before buying my new car, my car insurance was in the mid hundreds. It was fine because I received my previous car as a hand me down and I did not have to make car payments. But, after everything was said and done and I got the new car I went to the insurance agency to update to my car insurance. To my surprise, the monthly car insurance jumped up nearly an extra two hundred. There were many reasons why, but one of the big reasons for the increase was the fact that 2012 models added a major increase. This was something...
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...good I have chosen for this supply and demand paper is buying a new car. I just bought a brand new 2012 Honda Accord LX from the Crystal lake, Illinois Honda dealer. I traded in my old 1999 Honda Accord EX which had 195000 miles on it. I had bought that car new as well from the Honda dealer. I was going to get my old car fixed but it would have cost me 2000.00 the Honda dealer said. They suggested I buy a new one and I was promised a good deal because sales were low for them. I made the decision to trade my old Honda Accord for 4000.00 and get the new one. I am so happy I made the right choice of buying a new car instead of throwing money away in the old one. In this paper I would like to talk about factors that could cause possible changes in the supply and demand when buying a new car. Determine at least two substitutes there may be for new cars. Also, check at least two complements there may be for new cars. Lastly, determine the key determinants of the price elasticity of demand. Some of the factors that could cause possible changes in supply and demand when buying a new car are when there are high unemployment rates and lower wages, the demand for new cars will be less. When people have a good job and make more than minimum wage they may buy a car for every driver in the house and then the demand for new cars will automatically increase. Also, when gas prices are really high people may avoid buying new cars especially since a lot of newer models have really big...
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...Cundiff Supply and Demand Paper 08/25/2013 The one good that I purchased and have experience with is buying a new car. Buying a new car was very beneficial for me, but I had to shop around at many car lots before I chose the car that I bought. The reason I had to shop around is because the type of car that I wanted was not available at a few of the places I went due to the economy. That is one of a few reasons why a certain car may not be available in a certain area. The supply and demand for cars can change in a matter of hours, because of the economy. It takes money to pay workers to make cars and it takes money for potential customers to shop around for those cars. If the economy is not doing so well, then that means that jobs will be hard to find and the demand for cars will start to decrease. The price of gas may fluctuate and that changes the demand for cars, because people choose to use public transportation instead. When the demand for cars starts to decrease then the supply of the cars will start to decrease, because they are not selling enough to make room for the others. Another factor that could change the supply and demand of cars is the weather. That sounds crazy, but it’s true. A lot of our cars in the U.S. comes from overseas. Japan is well-known for their import cars and many people in this country buy those types of cars. If there are a lot of hurricanes during hurricane season then the supply could start to decrease due to the...
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...Buying a used car Used car or new? What car is right for me? Where to look for used cars, what to look for when buying a used car? There are many questions you may have when it comes to used car buying process. This essay will answer to some of these questions and hopefully, make the used car buying process easier for you. There are many essential facts you should consider before buying your next car so you won't regret your decision for a moment afterwards. By purchasing a used car, you can save a lot of money. A new car depreciates quickly in the first few years and after 3 years, it is worth only about 60-70% of the original price. In fact, as soon as you leave the dealership, your new vehicle is suddenly worth $1000-$2000 less. When purchasing a new car you basically are paying for its fresh "new" aroma and warranty. Yet, buying a new car does not always mean the buyer will get perfection. A new car may come with problems associated with poor design or manufacturing defects that may have been already repaired during the warranty coverage period if it's a used car. The same is true for all kinds of recalls and service campaigns. Another advantage of buying a used car is that you could buy a loaded model with all the bells and whistles that you might not be able to afford had you bought a new car. However, buying a used car is still a bit of a gamble - there is no guarantee that the car is accident-free, has real mileage, and was properly maintained. There...
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...on the purchaser from gatherings, for example, family, companions, games, reference gatherings, and society by and large. Understanding consumer behavior gives the marketer an opportunity to see the effects of demographical variables on consumer preferences (Solomonet al, 202). Marketers apply this knowledge to segment customers when marketing their services and products. The consumer’s responses vary depending on the product and individual background such as lifestyle (Schiffman et al, 2009). For instance, when a company is marketing a car it segments the consumer’s according to theirpreferences which differ across demographic variables. Individual lifestyle attributes of interest may affect consumer’s preferences. Lifestyle of an individual affects the consumer’s choice on products to buy. For instance, the type of car the consumer wants will be influenced by his lifestyle. An example of lifestyle that may influence the type of a car that a person wants to purchase is highly affected by his beliefs and value systems(Schiffman et al, 2009). A...
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...Leasing vs. Buying a Vehicle The great debate to lease or buy a car? Which one of the two options is the smarter or he better choice? The answer to this question is both and neither are the best options. Confusing one may think so, however, the best way to get to the answer is to ask yourself what is important to you. Every person is different with different values and priorities that determine for them whether leasing or buying is the answer. There are people who desire to drive a new vehicle every few years with little or no maintenance costs. Some people have a strong desire to own the vehicle, as opposed to lower upfront costs with no ownership. One of the two of the biggest temptations for many people to lease verses buying are that the monthly costs to lease are cheaper than the monthly payments to buy a car. The other is that they are able to have a new car every 2-3 years, as opposed to the people who purchase. People who purchase generally hold on to the car for an additional 2 years after the last car payment. Let’s review the pros and cons of leasing. The advantages of leasing are it offers lower monthly payment and the ability to drive a new car with all the new bells and whistles every 2-3 years (ehow). There is a tax benefit of paying lower taxes since the individual is paying the taxes on the monthly payments verses the full value of the car. From the two examples so far it appears that leasing is a great situation, and everyone should lease; once...
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...experience in purchasing would be is a new car. In 2010 I had to purchase a new car because my old car transmission was about to go. I didn’t have enough money nor did I want to put that much money into my ten year old car. So I decided to buy a new one. I didn’t do much research on my new buy. I asked some people which car would give you more sterility and good warranty. Everyone told me Hyundia is the better choice out there. The factor that could cause possible changes in supply and demand for buying a new car is when the national income falls the demand for automobiles falls as well. When it raises so does the supply. The prices of automobiles fuel rises can change the demand for the supply as well. Also when a company has recalls it sends that companies demands down. Consumer becomes scared off from that product till the turn around. Cars that are gas guzzler demand also become down when gas prices are high. One substitute could be to buying a car is purchasing a year long bus pass. By purchasing a bus pass you will not have to worry about gas, maintenance up keep, and insurance. These are the biggest issues with having a car. The second substitutes would be to purchase a bike. A bike could also save you and give you daily exercise. Both of these substitutes are good if you live close to you job and local stores. One compliment to buying a car would have to purchase new tries. New tries will give you the right gas mileage for your car. This will keep cost down on the gas...
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...How to Buy a Perfect Used Car Used car buying is a huge industry to people and dealerships. New cars are so expensive that it makes a huge demand for used cars. A good thing about buying used is you can get a nice used car for a lot cheaper than new. You can also buy a used car that ends up being a money pit. There are ways to prevent that from happening. Used car buying can be easy and stress free with the help of some tips. • First thing you want to do is research different cars. You want to make sure the car you buy is one that you would love to drive. Buying a car is one of the biggest investments in life and you want to make sure you it’s one you’d want to drive every day. • Once you find the car you would love to have, look up what people and dealerships are asking for that specific vehicle. Kelly Blue Book is a good reference to car buying. It will tell you how much to pay and what they sell for. You could also look up reviews. Whenever I buy a car I look It up in Kelly Blue Book and get a lot of information about it. • After finding a fair price that the car is worth then you have to decide whether you are going to buy from private party or from a dealership. Private party is usually a lot cheaper but can cause way more money in the long run if you don’t know for sure what you are buying. With a dealership you will be paying a little more, but have more peace of mind knowing the dealership went through everything making sure the vehicle was in good working order...
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...Autobytel Case Executive Summary Autobytel is the first mover in the internet new car buying service in the US. It enjoyed miracle growth during its early stage but now is facing strong competition from many sources relating to car buying services. In such increasing competition, it has to reposition itself to differentiate from competitors by offering new services and products such as selling cars direct to consumers and increasing the numbers of dealers and reduce costs. Existing marketing mix should be reviewed to find a balance between efficiency and profitability by focusing on internet advertising and personal touch with dealers. Facing strong competition in the internet new car buying service As the number of dealers using online buying services is dramatically increasing, Autobuytel is facing intense competition with other online car-buying service providers such as Microsoft, Dell, who had entered the market, set up dealer networks in a short period, and are nearly catching up with Autobytel by using their brands and existing networks or partnership with companies which already have car dealer network bases. They are not only price-competitive, but also have a wide variety of services like car delivery service by CarsDirect.com. Car manufacturers and dealers also start direct online car-selling service. These competitions make Autobytel difficult to differentiate itself from other online car buying service providers in pricing and servicing. Major Issues: * Major...
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...wants. Business customer behavior or organizational buying behavior on the other hand is a decisions making process by which “formal organizations” identify, evaluate and select among alternative brands or suppliers to satisfy their needs for products or services. When, why, how, and where individual consumers buy or do not buy a product? What about the business customers? How do they behave? What kind of a buying process do the individuals and business customers go through? What are the factors affecting their behavior and in what ways the behavior of these two parties differ? Answers to all these questions raised will be examined through several examples to come up with the major differences between the individual consumer buying behavior and the business customer buying behavior. As individual consumers we make countless number of buying decisions throughout our lives. While some of our purchases are made unconsciously or requires low involvement, in some others we go through a long decision process. But in general, the individual consumer behavior is related to internal or external stimuli, shaped by consumer psychology and certain cultural, social or personal factors going through the buying process. The buying process starts with the recognition of a problem and followed by several stages like information search, evaluation of alternatives, purchase decision and postpurchase behavior. Personally, the purchase of my first car was one of the most important purchases of my life...
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...CAR Explain factors that could cause possible changes in supply and demand. 1. Time of year - at end of year people want to wait for next model year. At beginning of year the current model in more demand than last year’s model. 2. Price of gas - SUV (gas guzzlers) become less desirable when gas is high. 3.Fad - going green is chic so hybrids and flex fuel and smaller cars are desirable. 4. Taxes - governments can given lower taxes or rebates to stimulate purchase and purchase of specific types. Cash for Clunkers removed any cars from the market since they had to be destroyed and new cars had to be bought. 5. Politics xenophobia- makes purchase of foreign cars less desirable. Anti-Indian or Chinese may make sales of there cars fall in the US. 6. By American fads campaigns by manuafactures; union; patroit groups. 7. Bad news about product- run away Toyotas and the jokes on the Letterman and Leno shows. Substitutes: Truck; bicycle; motorcycle; public transportation; ride share; sharing car with others (like a time share). Complements are parking space; ski/bike rack; extended warranty; insurance; stereo system; gps; alarm system; vanity license plate; custom paint; trailer hitch; sexy rims. Most people require one car so you must by a new one or a used one. It not likes a pet rock where we can all walks away from buying one. There will be a residual market (demand) at all times but probably never zero demand, Example: The competitive market that we face today has...
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...process of buying a car is figuring out which body type you like. A teenager would normally go for a minivan to incorporate his four wild kids. When picking out a new car what condition the car is in is also part of the process. The most ideal condition is a rusted car so you won't have to worry about taking your time and parking it trying not to get scratches and dents into a door. Or when you're backing out of the driveway about to hit the mailbox because do I have to pay to get it repainted if it doesn't have any paint on it. Once you found the car that you want when move on to the second step which is the actual buying of the car. When you buy a car you always want to get it for the cheapest price possible. In most cases if it's your first car your parents are paying for it....
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...COMPOSITION AND COMMUNICATION I New or Used Car My daughter just got her driver’s license when she turned 18 years old now that she’s going to college and she is working a part time job, we are looking into different options of buying her either a new car or used car. We want to find the best car for her. Some of the factors we are considering are gas mileage, car repair bills, the reputation of the different dealerships, and would she be better off in a new car or a used car. We have fights everyday over to the use of my truck, if we were to get her a car of her own there would be no more fights. Regardless of what option we choose, new or used, it would still be new to her and she will be very happy about getting it. When she’s driving back and forth to school she is putting a lot of miles on a car. She has to go to school about twice a day for a short period of time. When she’s working, that’s not as bad as its, less than 2 minutes from our home. So on a normal day she starts outgoing to school, back home, where she does homework for about an hour, and then to work for 2 hours. After she’s done working she comes home and gets ready to go back to school for two more hours. With all the driving she does, we want to make sure she gets a car with good fuel performance. That way she’s not using all of her pay check to pay for gas. I don’t want her to buy a car and have to invest hundreds to thousands of dollars into fixing the car due to how much she has to drive it. ...
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