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Smart Car Buying Guide: Financial Literacy Lesson

Engage in a brainstorming activity to understand what to consider when purchasing a car. Play 'The Price is Right' car guessing game to test your knowledge. Discuss financing options, monthly costs, and ways to lower expenses. Learn about additional costs like car title, insurance, and gas prices. Compare lending agencies to make an informed decision. Choose between a used Nissan Versa or a new Mitsubishi Mirage. Identify hidden issues in car buying and explore solutions in a comprehensive Car Solutions booklet.

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Smart Car Buying Guide: Financial Literacy Lesson

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  1. How Do I Pay for My Car? A Financial Literacy Lesson

  2. Brainstorming Activity What things do you need to consider when buying a car? 

  3. The Price is Right Car Game

  4. The Price is Right Car Guessing Game https://www.youtube.com/watch?v=Bd-mKoy183A

  5. Q &A Discussion: After the video game Did most students guess higher amounts for the car?  Or lower?   The Dodge Journey costs $22,384.00. What would be the monthly cost if you financed the car over 60 months or 5 years?  3. What might be some ways to pay for the car on a monthly basis? 4. What are some ways to lower cost of the car?

  6. What additional costs should you consider when purchasing a car? ?

  7. What other costs should you consider when purchasing a car? Car Title Car Tag Interest rate on car loan Car insurance Gas cost

  8. Where could I get a car loan? Banks Payday Loan Company Credit Union Car Dealership

  9. How do these lending agencies differ? Bank Payday Loan Company Credit Union Car Dealership Will loan money to anyone but usually with very high interest rates. Requires collateral (car) or a good credit history to loan money. Finds a lender for you but you may pay a hidden fee for the service. Must be a member of this lending agency to borrow any money from them. Source: www. investopedia.com

  10. Choose A Car to Purchase USED NEW 2017 Nissan Versa (new): $14,710 0 Miles 2015 Mitsubishi Mirage DE- $9,998 39,000 miles

  11. The Hidden Issuesof Car Buying. Knowledge is Key! Upside Down Payments Hidden Mechanical Problems Car Price is higher than the Blue Book Bad credit score Using internet research, create a Car Solutions booklet. Explain what each phrase means and a possible solution to the issue.

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