Car Loans

Students imagine that they have been approved for a car loan, given that they have a cosigner. They will start by researching a used car they would like to purchase. They are instructed to consider their monthly income (or imagined income) when selecting a car.

Given three loan scenarios, students will calculate loan costs and create an amortization schedule for their purchase. They will also find tax and insurance rates. Students should not seek a quote from an insurance company; rather, they should find some representative rate.

Finally, students will produce graphs to accompany an explanation of their choice of car and loans.