tailieunhanh - Lecture Personal finance - Chapter 5: Making automobile and housing decisions

This chapter design a plan to research and select a new or used automobile; decide whether to buy or lease a car; identify housing alternatives, assess the rental option, and perform a rent-or-buy analysis; evaluate the benefits and costs or homeownership and estimate how much you can afford to pay for a home; describe the home-buying process; choose mortgage financing that meets your needs. | PFIN 4 Making Automobile and Housing Decisions 5 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. GITMAN/ JOEHNK/ BILLINGSLEY Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1 Design a plan to research and select a new or used automobile 2 Decide whether to buy or lease a car 3 Identify housing alternatives, assess the rental option, and perform a rent-or-buy analysis 4 Evaluate the benefits and costs or homeownership and estimate how much you can afford to pay for a home 5 Describe the home-buying process 6 Choose mortgage financing that meets your needs LEARNING OUTCOMES PFIN4 | CH5 Guidelines for Purchasing Decisions Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly . | PFIN 4 Making Automobile and Housing Decisions 5 Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. GITMAN/ JOEHNK/ BILLINGSLEY Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 1 Design a plan to research and select a new or used automobile 2 Decide whether to buy or lease a car 3 Identify housing alternatives, assess the rental option, and perform a rent-or-buy analysis 4 Evaluate the benefits and costs or homeownership and estimate how much you can afford to pay for a home 5 Describe the home-buying process 6 Choose mortgage financing that meets your needs LEARNING OUTCOMES PFIN4 | CH5 Guidelines for Purchasing Decisions Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Research purchase thoroughly considering the market and the personal needs Base the selection on the needs Negotiate the best price and arrange financing on favorable terms Understand all the terms of the sale before signing the contract Maintain the purchase and make necessary changes promptly PFIN4 | CH5 Factors That Affect Affordability Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Amount of down payment Size of the monthly loan payment Operating costs Type of vehicle Gas, diesel, or hybrid New or used Size, body style, and features Other considerations Trading in/selling, fuel economy, safety measures PFIN4 | CH5 Purchase Transactions Copyright ©2016 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Negotiating price Sticker