SPENDING MONEY AND BUDGETING WORKSHEET - CAR BUYING LESSON PLAN - AUTOMOBILE PURCHASE

# PURCHASING AND FINANCING A CAR

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Learn about purchasing and financing a car by filling in the missing financing calculations.

 LESSON LEARNED   Car Financing

 OTHER SKILLS REINFORCED Math Amortization

 Suggested Car Financing Money Lesson Plan to use with this Worksheet Use this worksheet to help students identify and understand the main variables for purchasing and financing a car.   Purchasing a car may seem out of reach because cars are expensive items.  One way to help individuals afford a car is through financing, and taking a car loan.  This allows you to pay for a car by making smaller payments over a period of time, rather than in one single payment.   When financing, the first thing to look at is the purchase price of the car.  Often, a percentage of that price, also called the down payment, must be paid.  The amount financed is the remaining amount.   Factors including interest rate, financing term (months to finance) will impact the monthly payment.  Calculating monthly payment requires a financial calculator or solving an amortization formula.  Vocabulary and terms to understand:  Down Payment, Amount Financed, Interest Rate, Cash Price, Monthly Payment, Yearly Payments Finance Charges.
 WORKSHEET Instructions Each line of this worksheet has a different car available for sale. Information about the cars includes the price, and financing information (down payment, amount financed, interest rate, months, payment per month, and total yearly payments) must be calculated.   The student is to fill in the missing information. You may choose a standard worksheet or customize the worksheet to your teaching needs.   Calculating the payment per month will require a financial calculator or solving an amortization formula.  Therefore, to make this worksheet simpler, you have the option to have the monthly payment automatically calculated.   To customize the worksheet, you have several selections.  Choose number of questions.  Single question worksheets make for good reviews or introductions.   Also, you may customize this worksheet with the names of your students, or use random names, or mix student names with random names.   Make your selections, then press "Get Worksheet."

STANDARD WORKSHEET

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CUSTOM WORKSHEET

This worksheet may be customized with the following settings.

Make any changes you wish, then press "Get Worksheet".

Number of questions:

Items to Show

If checked, then the amount will be shown.  Remove the checkmark to hide the item amount.  The less items shown, the more difficult the worksheet.

 Price Down Payment Amount Financed Interest Rate Months Payment per Month Total Yearly Payments

You may personalize this worksheet with your students names by listing them in the box below.  Each name must be on a separate line. You may also cut and paste a name list from another application.

Name List (optional)

Mix with random Names?

If you enter names above, then selecting this box

will mix these names with random names.

Show car pictures?

Answers will print on a separate page.

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