1. Buying a car Figuring out how much it will cost

2. Terms to know A.P.R.- Annual Percentage Rate Term: Amount of time you are going to pay on the loan. Principle: Amount of money borrowed for vehicle. Monthly Payment: How much you are paying per month (Interest + Principle).

3. Terms Trade-in: An item that you trade for the newer vehicle you would like to purchase. Depreciation: The devaluation of the vehicle your purchasing.

4. Calculating a loan-Used Car Loan Amount $12,000 A.P.R.- 5.25% Used Car Amount (with excellent credit) Term- 5 years Monthly Payment-$263.91 ◦Total Amount Paid $13,669.91  Principle-$12,000  Interest- $1,669.91

5. Calculating a loan-New Car Loan Amount $12,000 A.P.R.- 3.5% (With excellent credit) Term- 5 years Monthly Payment-$218.30 ◦Total Amount Paid $13,098.06  Principle-$12,000  Interest- $1,098.06

6. Places to search for vehicles www.cars.com www.autotrader.com www.cycletrader.com Budget $10,000 for vehicle ◦Remember to fill out the amount in your budget worksheet.

7. Total Cost. Sticker Price-How much are they advertising the sale price for? ◦Add tax 6.5% to total ◦Title Registration Fee-$225 ◦Tag Fee- $71.85 for standard fee ◦All totaled up will give you amount of vehicle.

8. Insurance $10,000-Personal Injury $10,000-Property Damage Liability More coverage needed if you are financing a vehicle. www.thegeneral.com for an insurance quote on your car/truck. www.thegeneral.com