Why People Should Understand Cars

ThinkLink

The economic principle I’m exploring is “People Benefit when they trade voluntarily”

 My research question to help me study the economic principle is “Why should people have an understanding of how cars work”

 The article published in The Good Men Project titled “5 Reasons To Learn and Teach More About Cars” demonstrates this economic principle by arguing/showing that you can understand the value of cars, Make your own repairs, and know how much repairs should cost

First, it would help you understand the value of cars. The author writes “While there are online calculators that can help you establish the value of your used car, you’ll still need some intuitive understanding of car value if you want to buy a used car affordably.” I agree with this because if you don’t know what makes a car cost what it does, you are a lot more likely to overpay.

Second, it would allow you to make your own repairs. According to the author, “You’ll need to cover several points of routine maintenance on your own car to keep it in working order, including rotating the tires, changing the oil, and replacing low fluids and windshield wipers. Knowing how to do these things can save you significant money (and can maximize the life of your vehicle). It may also come in handy if your car breaks down and you need to figure out what’s wrong.”

I think that he is right in saying this because it also could help out if something is wrong with the car when you are trying to sell it and need to fix it first.

Finally, it would teach you how much the repair should cost. According to the author, “customers who appear to know less about car repairs tend to receive higher quotes from auto mechanics than people who know a great deal.” Simply understanding how the car works and being able to show it means mechanics are less likely to charge you more because of your ignorance.

In my next blog post I will research the question: How does lack of knowledge lose people money when selling cars.