Title: Lesson 5.4: Cards, Cars, and Currency: The Car Deal Package (Lesson or Online Module)
Course: Personal Finance Sample "STANDARD" Syllabus

Use the lesson or assign the online module.

Online Module

Description: Students analyze the price of consumer credit and identify the factors that affect the total price for a car, including the interest rate, the length of a contract, and the size of a down payment. They learn to evaluate the costs and benefits of car purchase options and analyze a car contract. Estimated time to complete the course 20 minutes.

Lesson

Description: Using examples of three types of cars as a reference—an economy car, a moderately priced car, and a luxury car—students learn about the decisions involved in purchasing a car. They work in groups to compare different car deals using three criteria: the income test, the downpayment option, and the time option. The students then analyze the terms of a sample car contract and consider the effects of signing the contract without understanding the terms. They also use an online calculator to collect information for responsible decisionmaking.