Buying a Car - Financial Literacy Series

NOTE:  This class has NO live meetings.  Each week Monday by 8:00 AM CST a pre-record instructional video, lessons, materials, and activities will be uploaded to the classroom. 

In this 5 lesson class, students will learn how the explore terms and basic strategy used when purchasing a car.  Whether new or used, buying a vehicle is probably the largest purchase a teenage will make. While those in the business sell cars every day, the average consumer has little experience buying a vehicle. Knowing some basic strategies can make the process less stressful. 

Lesson 1:  Choosing a Car
   ◾   Identify factors to consider when looking for a car 
   ◾   Compare different types of cars 
   ◾   Understand the differences between popular car research websites and apps 
   ◾   Conduct research to find a few cars that meet their needs 
Activity:  RESEARCH: Find Your Next Car

Lesson 2:  Costs of Owning a Car
   ◾   Summarize the different costs associated with owning a car
   ◾   Explain the different factors that can affect car insurance rates
   ◾   Understand how depreciation affects car’s value over time
   ◾   Calculate the total costs of car ownership for a specific vehicle
  Activity: RESEARCH: Monthly Cost of Car Ownership

Lesson 3:  Buying New and Used Cars
   ◾   Understand the pros and cons of buying a new vs. a used car 
   ◾   Explain the various warranty options available to them when purchasing a car 
   ◾   Identify the differences between a pre-owned vehicle and a certified pre-owned vehicle
   ◾   Explore the various options they have to get an auto loan and understand the pros and cons of each 
   ◾   Read a vehicle history report in detail 
Activity: FINE PRINT: Vehicle History Report

Lesson 4:  Leasing vs. Buying
   ◾   Explain the pros and cons of leasing a car instead of buying one
   ◾   Read a car lease agreement to understand costs, restrictions on use, and what happens at the end of an auto lease
   ◾   Understand the costs of monthly payments and why they differ between buying and leasing
Activity:  ( INTERACTIVE) Lease vs Buy Car Calculator

Lesson 5:  Sealing the Deal
   ◾   List items they need to bring to a dealership when buying a car
   ◾   Explain how buying a car from a private seller differs from buying from a dealership
   ◾   Identify best practices when negotiating a car price
Activity: RESEARCH: Find Your Next Car

This is clsdd jsd no live meetings that uses Nearpod and precorded lesson videos.   Students will not be making an actual car purchase.  Students will be learning about the responsibilty and cost of owning car, how the process works of buying a car and basic knowledge of the vocabulary used.