Sunday, September 13, 2015

Financing a Car - Interactive Lesson

Financing a Car - Interactive Lesson

Ohhh My First Car is a great assignment to get your students hooked on your class at the get–go. It’s the kind of lesson that grabs kids’ attention and holds it all the way through.

It is a great lesson for any Personal Finance class, but if you happen to have a class full of rambunctious boys this lesson will keep them engaged.

Ohhh My First Car is a bundle of 4 lessons designed to teach students everything they need to know about purchasing a new or used car. It is loaded with hands-on activities that teach students the ins and outs of selecting a vehicle, finding the best interest rates, and calculating car payments.
This unit contains 4 lessons on 64 pages in 13 PDF files all for $12.50

Lesson 1 – Buying a New Car
In lesson 1 students will research a new car using the Internet.  They will learn how to select car style, color, and options. They will learn how to find information on: customer ratings and reviews, safety and reliability, mileage and warranty.  They will review the vehicle summary and learn the difference between MSRP Price, Invoice Price, and Smart Target Price.

Lesson 2-Buying a Used Car
In Lesson 2 students will use the Internet to research a used car.  They will learn what certified pre-owned means. They will learn how to find information on seller’s notes, as well as consumer ratings and reviews, safety and reliability, mileage and warranty.  They will learn to research the car’s history including, accidents, recalls and service records. To help determine if they are paying a fair price for the vehicle they will learn to use Kelly Blue Book.

Lesson 3 – Finding the Best Interest Rates
In lesson 3 students will use the Internet to research interest rates.  They will learn how to find a loan from a local bank or credit union that offers the lowest interest rate with the least amount of fees and conditions for the car they selected.

Lesson 4 – Calculating Car Payments
In lesson 4 students use the Internet to learn how to calculate monthly car payments based on the price of the car they chose, and the best interest rates they found in lesson 3. They also learn how to gather additional information by reading the amortization table. By completing this lesson students will learn that the price of the car, the interest rate, and the number of years taken to pay off the car loan all come into play in determining their monthly car payment, as well as the amount of interest paid on the loan.  They will quickly see that loans are not free.

*This unit is aligned with National Core standards for Personal Finance.
*It offers options to make the lessons within it easier or more challenging.
*Discussion questions for each lesson are included in the teacher notes.
*Each lesson is packed with great questions, as well as sample answers.
*Detailed student directions and teacher notes are included.


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