Question

1. Discuss the pros and cons of owning a car. Try to come up with a scenario in which it might make more sense to lease or car share.

2. If you had to go to a car dealership tomorrow to buy a new car, how would you prepare?
3. What sorts of costs will you have to consider in addition to car payments?

Answer 1

1. The pros of owning a car are obviously the benefit of being able to move around at any hour, and with more freedom and flexibility than in public transport, and a second pro is that the car can given the owner more social status.

The main two cons of owning a car are first the fact that a car loses value (depreciates) over time, and that cars have many associated payments.

2. Before going to the dealership, you should have a budget or range of prices that you can afford, you should also have an idea about what type of car you want, and an idea of what type of financing you would like to take.

3. Car insurance, associated taxes, whether direct or indirect, and possible car repairs.