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.
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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.
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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
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Lesson 1 – Buying a New Car
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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.
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Lesson 2-Buying a Used Car
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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.
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Lesson 3 – Finding the Best Interest Rates
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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.
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Lesson 4 – Calculating Car Payments
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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.
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*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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PERSONAL FINANCE LESSONS DESIGNED ESPECIALLY FOR TEENS! Find me on Twitter at www.twitter.com/financeunleash |
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