Original PromptNew Car Reality Check Project
“Can You Actually Afford Your Dream Car?”
Course:
Personal Finance / Life Ready 101 / Intro to Business
Grade Level:
9–12
Time Needed:
2–3 Class Periods
Lesson Objective
Students will:
Research a realistic vehicle
Compare buying vs. leasing
Calculate monthly car payments
Research auto loan interest rates
Determine affordability based on income
Understand hidden costs of owning a car
Essential Question
Just because you WANT a car… does that mean you can actu...
This document focuses on the comprehensive analysis of the total cost of vehicle ownership, equipping students to evaluate their financial capabilities when purchasing or leasing a car. It outlines the learning objectives, incorporates research activities on vehicle models, and examines important financial metrics such as APR and depreciation. Through various parts, students are encouraged to investigate the pros and cons of buying versus leasing, analyze loan options provided by lenders, and create a personal budget to assess the feasibility of car ownership against their financial realities. Additionally, it includes sections for reflection and consideration of unexpected costs involved in vehicle ownership, preparing students to make informed decisions based on thorough financial analysis.