Car Loan

Lab Description

Welcome to the "Car Loans" lab, designed to provide students with a comprehensive understanding of the car buying process and the financial aspects of securing a car loan. The lab uses interactive activities and resources to engage students and equip them with practical knowledge about car loans and personal finance.

The topics covered include:

1. Introduction to car loan
2. Loan basics such as principal, interest, and loan term
3. APR and worksheets to show how APR is affected by different factors
4. Types of car loans
5. Lease vs loan and interactive activities to show the difference.
6. Interactive worksheets to calculate the monthly payments
7. Interactive amortization schedule activity
8. Affordability and budgeting when buying a car
9. Common pitfalls when buying a car
10. Wants and needs in vehicle selection
11. Case studies

The lab also includes many research activities such as comparing two cars the students like, writing activities such as writing a letter to a friend talking about the things to take care of when buying a car etc.

Who this course is for

Middle and High school students