Discussion Post
I. Go to Edmunds and/or Kelley Blue Book. Research a hypothetical vehicle that you may would care to purchase.
i. How could you use the site(s) to obtain the best price for the vehicle (Note: Invoice and MSRP prices)?
ii. Would you either buy or lease the vehicle?
iii. What is your rationale?
iv. What are advantages / disadvantages with either leasing or buying?
v. For your researched vehicle, use an online purchase calculator to calculate the payments for the vehicle. Here is a link to an online car payment calculator:
vi. What would be the loan terms that would be needed to afford the monthly payments for the vehicle to fit your budget?
vii. What strategies would you use in shopping for the auto loan? If not purchasing, what would be the lease payments?
II. Go to Zillow and/or Realtor. Research a hypothetical home that you would purchase.
How could you use the site(s) to obtain the best price for the home? Also research mortgage interest rates for your area of location and desired loan amount.
For your researched home and mortgage interest rate, use an online purchase calculator to calculate the payments for the home such as this one: Calculator.
i. What would be the loan terms that would be needed to afford the monthly payments for the home to fit your budget? What amount would you have to raise and put down as a down payment?
ii. What strategies would you use to shop for the home loan?
iii. In addition to the monthly principal and interest payments, what other payments (i.e taxes, insurance, HOA) would be needed to constitute the entire monthly payment for the home?
iv. What would the total monthly amount be?
The response must include a reference list. Using one-inch margins, double-space, Times New Roman 12 pnt font and APA style of writing and citations.