Car Research and Buying Activity

Vocabulary terms and definitions covering the systematic process of researching, filtering, and financing a car based on the NGPF Activity Bank.

Needs Assessment

The first step in finding a car, which involves identifying what a buyer's car needs and preferences are.

Driverbase.com

An interactive website where users slide bars to identify driving preferences and generate a web depicting the importance of factors like Safety, Style, and Budget.

Kelley Blue Book’s Car Finder Tool

A tool used to narrow car searches and find specific makes and models based on filters like price range, condition, and model year.

$$35k$$

The maximum price range filter suggested for conducting a car search in this activity.

MSRP

Stands for Manufacturer's Suggested Retail Price, sometimes listed as the Dealer Price for a new car.

Edmunds

A website used to search for car details, including condition, color, and price, and to estimate loan or lease payments.

Term (Months)

The length of a car loan, with $60$ months being the standard used in the activity's loan calculator.

Down Payment

The initial amount paid toward a car's value, suggested to be $20\%$ inclusive of any trade-in value.

Monthly Loan Payment

The estimated payment amount that includes the principal loan amount, estimated taxes, and fees.

Leasing

An option where a person pays for a car's use over a period (commonly $36$ months) with set annual miles, often requiring no down payment.

Used Inventory

A category of cars, such as a three-year-old model, where prices are influenced by miles driven, accidents, and number of owners.

Utility & Cargo

One of the specific driving preferences assessed to determine if a car meets a buyer's needs.

Reliability

A car factor assessed in the Driverbase.com web to determine its importance to the user compared to Performance or Efficiency.