Any car--provided you know make and model you are seeking |
Payment Calculator--calculating your monthly payment : Calculate your monthly car payment at Bankrate.com --You will need the purchase price of your car. --Use 6% for your interest rate. --Print the quote sheet that shows the payment terms for the car you have selected. |
You may now begin to shop for your car: Remember, your car payment + your rent can not exceed 55% of your monthly net income. On a separate Word document titled "MY CAR", Record: Type of car: year, make, model; total price of car, (Example--2002 Ford Mustang $26,000 Copy and paste a photo of your car. Attach to it the Payment details from the payment calculator. Add this to your folder--Make sure you add your name to each document! Use the links below to select your car: New Cars: Used Cars: You may also use the AutoMart magazine and St. Louis Post Dispatch classified ads. |
What can you afford? Use the "Payment Estimator" link on Ford's Website to learn about payments. (It is located in the upper right corner with the other Financial Tools. " You will have to select a Ford car to use their payment calculator. (You do not have to use a Ford car for your budget simulation) Once you click on "Payment Estimator", select a car and fill in the required information. Vary the downpayment amount and length of the loan. Answer the following questions. 4. As you increase the amount of the downpayment, what happens to the amount of the monthly payments? What happens to the overall amount of the loan? 5. As you increase the length of the loan (number of payments) what happens to the amount of the monthly payments? what happens to the total amount of repayment? |
Payment Options When you purchase a car, you will have to choose between traditional financing, balloon financing (smart buy), and leasing (smart lease). Use GM's website to answer the following questions: 1. What is traditional financing? 2. What is balloon financing (smart buy)? Who would benefit most from purchasing a car on this type of payment program? 3. What is a lease (smart lease)? Who would benefit most from purchasing a car on this type of payment program? |
Today you will begin shopping for a car. There are a few things you should know before you begin. Use the links below to answer the questions. Write your answers on a sheet of notebook paper or type your answers into a Word Document (12-14 point type, print font, no word art), print it when it is complete staple it to your "My Car" document, and add it to your folder. |
Buying a Car |
Today you will begin shopping for a car. There are a few things you should know before you begin. Use the links below to answer the questions. Write your answers on a sheet of notebook paper or type your answers into a Word Document (12-14 point type, print font, no word art), print it when it is complete staple it to your "My Car" document, and add it to your folder. |
Payment Options When you purchase a car, you will have to choose between traditional financing, balloon financing (smart buy), and leasing (smart lease). Use GM's website to answer the following questions: 1. What is traditional financing? 2. What is balloon financing (smart buy)? Who would benefit most from purchasing a car on this type of payment program? 3. What is a lease (smart lease)? Who would benefit most from purchasing a car on this type of payment program? |
What can you afford? Use the "Payment Estimator" link on Ford's Website to learn about payments. (It is located in the upper right corner with the other Financial Tools. " You will have to select a Ford car to use their payment calculator. (You do not have to use a Ford car for your budget simulation) Once you click on "Payment Estimator", select a car and fill in the required information. Vary the downpayment amount and length of the loan. Answer the following questions. 4. As you increase the amount of the downpayment, what happens to the amount of the monthly payments? What happens to the overall amount of the loan? 5. As you increase the length of the loan (number of payments) what happens to the amount of the monthly payments? what happens to the total amount of repayment? |
You may now begin to shop for your car: Remember, your car payment + your rent can not exceed 55% of your monthly net income. On a separate Word document titled "MY CAR", Record: Type of car: year, make, model; total price of car, (Example--2002 Ford Mustang $26,000 Copy and paste a photo of your car. Attach to it the Payment details from the payment calculator. Add this to your folder--Make sure you add your name to each document! Use the links below to select your car: New Cars: Used Cars: You may also use the AutoMart magazine and St. Louis Post Dispatch classified ads. |
Payment Calculator--calculating your monthly payment : Calculate your monthly car payment at Bankrate.com --You will need the purchase price of your car. --Use 6% for your interest rate. --Print the quote sheet that shows the payment terms for the car you have selected. |
Any car--provided you know make and model you are seeking |
