This is one of the most interesting and engaging lessons I use every year dealing with personal finance. The students are always interested to find out what the value of the car they are driving or riding in everyday is worth. This lesson teaches students how higher interest rates and length of loans can effect monthly payments. Teaching students how to buy and sell a car can be lesson that students never forget.
This unit covers the following:
Using Kelley Blue Book to find price of the car
Trade-In and Private Party Value
Buying a used car
Buy a new car
Financing and Interest
Yearly Car Costs
Websites for students to follow
Add depreciation and other concepts if you want to extend this lesson.