In this interactive activity, students will begin by examining the lease details of a Toyota Camry, gaining insights into leasing terms. The review questions will reinforce their understanding. They will also have the opportunity to calculate the cost of buying a car using various loan durations instead of leasing. Ultimately, students will engage in a critical analysis, comparing the advantages and disadvantages of both leasing and buying options.
Through this exercise, they will develop essential financial literacy and decision-making skills, empowering them to make informed choices when acquiring a significant asset like a car.
The primary objectives are to teach students how to evaluate lease details, calculate the cost of car ownership with various loan durations, and make informed decisions about the most financially sound option.