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Financial Fitness for Life Grades 9-12 Lesson 17: Car Ownership – What Does Is Cost?

Financial Fitness for Life Grades 9-12 Lesson 17: Car Ownership – What Does Is Cost?.

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Financial Fitness for Life Grades 9-12 Lesson 17: Car Ownership – What Does Is Cost?

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  1. Financial Fitness for LifeGrades 9-12 Lesson 17: Car Ownership – What Does Is Cost?

  2. Mistake 1: Looking for the lowest monthly payment. The monthly payment can be loweredby lengthening the repayment period. But, the longer the repayment period, the higher thefinance charge over the life of the loan. Don’t focus solely on the monthly payments.

  3. Mistake 2: Not asking for identical principal and repayment schedules in comparing loansoffered by different lenders. Always compare the cost of the same loan. Don’t try to compareapples and oranges.

  4. Mistake 3: Not asking for both the APR and the finance charge. By asking for both, you willbe sure the correct information is given.

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