pers finance ch 13
leasing
a contractual agreement with monthly payments for the use of the automobile over a set period of time
small claims court
a court that deals with legal disputes that involve amounts below a certain limit: typically $1500 or less
legal aid society
a network of community law offices that provide free or low-cost legal assistance
rebate
a partial refund of the price of a product
down payment
a portion of the total cost of an item that must be paid at the time of purchase
service contract
a separately purchased agreement by the manufacturer or distributor to cover the s\costs of repairing the item
warranty
a written guarantee from the manufacturer or distributor that states the conditions under which the product can be returned, replaced, or repaired
extended warranty
another type of warranty
arbitration is legally binding and mediation is suggestive
what is the difference between mediation and arbitration
attorneys
with small claims courts who is generally not allowed
let the buyer beware
"caveat emptor"
unit pricing
the use of a standard unit of measurement to compare the prizes of packages that are different sizes
implied and express
two types of warranties
source of the loan, type of credit account, payment period, amount of down payment
types of factors determine the costs of financing
trade-offs
Every buying decision involves ___, so being prepared for purchasing is important
small claims court, mediation, arbitration, class-action suit
four things to do
headquarters
if you cannot resolve your problem at the local store or business, contact the company's ___
class-action suit
legal action on behalf of all the people who have suffered the same injustice
before you shop, weighing alternatives, making the purchase, after the purchase
list and define the four phase research-based approach to buying
when, where, what, pay
smart shoppers know ___ to buy, ___ to buy, ___ to buy and how much to ____
edmunds used car prices, kelley blue book
some sources consumers can use to determine fair prices for used vehicles