There are many factors to consider when buying a car. Many car buyers only consider the monthly payment – but that’s not the entire picture. In this lesson, you will learn how to analyze the factors that affect the total price for a car.

When you have finished this lesson you should be able to:

• Define contract.
• Analyze the price of consumer credit.
• Identify the factors that affect the total price for a car including the interest rate, the length of a contract and the size of a down payment.
• Evaluate the costs and benefits of car purchase options.
• Recognize insurance as an added cost of owning a car.
• Analyze a car contract.