Содержание
- 2. Learning Objectives Make good buying decisions. Choose a vehicle that suits your needs and budget. Choose
- 3. Smart Buying Step 1: Differentiate Want From Need Smart buying requires separating wants from needs. “Want”
- 4. Smart Buying Step 2: Do Your Homework After deciding to make a purchase, comparison shop. Start
- 5. Smart Buying Step 3: Make Your Purchase Getting the best price might involve negotiations. Conduct research
- 6. Smart Buying Step 4: Maintain Your Purchase Maintain your purchase after the deal is complete. Resolve
- 7. Smart Buying Checklist 8.1 Before You Buy Decide in advance what you need and can afford.
- 8. Smart Buying Checklist 8.2 Making a Complaint Keep a record of your efforts to resolve the
- 9. Smart Buying in Action: Buying a Vehicle Vehicles are your largest purchase, next to buying a
- 10. Smart Buying in Action: Buying a Vehicle Step 1: Differentiate Want From Need Determine which features
- 11. Smart Buying in Action: Buying a Vehicle Step 2: Do Your Homework How much can you
- 12. Smart Buying in Action: Buying a Vehicle Step 3: Make Your Purchase Be sure to get
- 13. Smart Buying in Action: Buying a Vehicle Step 3: Make Your Purchase Financing Alternatives: Cheapest way
- 14. Smart Buying in Action: Buying a Vehicle Step 3: Make Your Purchase Leasing: Appeals to those
- 15. Smart Buying in Action: Buying a Vehicle Step 4: Maintain Your Purchase Keep vehicle in best
- 16. Smart Buying in Action: Housing Many people equate home ownership with financial success. Housing costs can
- 17. Your Housing Options A House: Popular choice for most individuals. Offers space and privacy. Offers greater
- 18. Your Housing Options A Cooperative (Co-op) is a building owned by a corporation in which residents
- 19. Your Housing Options A Condominium (Condo) is an apartment complex that allows individual ownership of the
- 20. Your Housing Options Apartments and other rental housing offer: Affordability Low maintenance situations Little financial commitment
- 21. Smart Buying in Action: Housing Step 1: Differentiate Want From Need Determine what you need versus
- 22. Smart Buying in Action: Housing Step 2: Do Your Homework Investigate the potential home and all
- 23. Smart Buying in Action: Housing One-time Costs Down payment Closing/settlement costs Points Loan origination fee Application
- 24. Renting Versus Buying Buying Many up-front and one-time costs Beneficial for those who itemize their deductions
- 25. Determining What You Can Afford Before house hunting, ask yourself: What is the maximum amount the
- 26. What is the Maximum Amount the Bank Will Lend Me? Lenders look at: Your financial history
- 27. How Much Should You Borrow? A mortgage is a large financial commitment of future earnings. Look
- 28. Financing the Purchase: The Mortgage Sources of mortgages: S&Ls and commercial banks are the primary sources
- 29. Conventional and Government-Backed Mortgages Conventional loans - from a bank or S&L and secured by the
- 30. Conventional and Government-Backed Mortgages Government-backed loans – lender makes loan and government insures it. VA and
- 31. Fixed-Rate Mortgages Monthly payment doesn’t change regardless of changes in market interest rates. If rates are
- 32. Adjustable-Rate Mortgages With an ARM, the interest rate fluctuates based on current market interest rates within
- 33. Adjustable-Rate Mortgages Interest Rate Index – rates on ARMs are tied to an index not controlled
- 34. Adjustable-Rate Mortgages Payment Cap – sets dollar limit on how much the monthly payment can increase
- 35. Adjustable-Rate Mortgages ARM Innovations: Convertible ARM – convert traditional ARM to a fixed rate loan during
- 36. Other Mortgage Loan Options Balloon Payment Loan – small monthly payments for 5-7 years, then entire
- 37. Other Mortgage Loan Options Shared Appreciation Mortgage – borrower receives below-market interest rate and lender receives
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