Please provide a comprehensive answer to the following question sets (1-2):
1)
Go to Edmunds.com and/or Kelley Blue Book.com. Research a hypothetical vehicle that you may would care to purchase.
How could you use the site(s) to obtain the best price for the vehicle (Note: Invoice and MSRP prices)?
Would you either buy or lease the vehicle ?
What is your rationale ?
What are advantages / disadvantages with either leasing or buying ?
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: LinkLinks to an external site.
What would be the loan terms that would be needed to afford the monthly payments for the vehicle to fit your budget ?
What strategies would you use in shopping for the auto loan ? If not purchasing, what would be the lease payments?
2)
Go to Zillow.com and/or Realtor.com. 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 (Links to an external site.)
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 ?
What strategies would you use to shop for the home loan ?
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 ?
What would the total monthly amount be ?