Buying a Car Terms

To lease a car means to...

• buy it. It will be yours at the end of the lease.

• rent it. You will return it to the dealership after the lease.

Tags

CCSS.RI.11-12.4

CCSS.RI.9-10.4

CCSS.RL.11-12.4

CCSS.RL.8.4

CCSS.RL.9-10.4

What is a down-payment?

• means they reduce the price of the car

• it's money you pay upfront, before taking a loan out for a car.

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

What is interest rate?

• the percentage of the loan you'll pay the bank in addition to the original loan amount.

• how interested you are in buying the car

Tags

CCSS.7.RP.A.3

True or false? At the end of a lease, you will get your down payment back.

• True

• False

Having dents or dings in your car would be more of a problem if...

• you took out a loan on the car.

• if you were leasing the car.

Tags

CCSS.RL.11-12.9

CCSS.RL.6.3

CCSS.RL.7.3

CCSS.RL.8.3

CCSS.RL.9-10.3

True or False: Leases typically have higher monthly payments than a loan.

• True

• False