Automobiles—Lease or Purchase? New or Used?

Buying a car is one of the biggest purchases you will make in your life.  It is very important to be an informed consumer so that you don’t spend more than you can afford.  The best plan is to save a large down payment and buy a car that meets your needs but doesn’t have all of the extras that add to the cost of the vehicle.  Remember that a car is a depreciating asset.  It loses value every year.  It is important to take care of your investment by keeping it in good working condition and keeping it clean so that when you sell it you will be able to get the highest resale price. 

Most teens dream of buying their first car and moving out of their parents’ house!  In this topic we covered the basics of buying a car.  In the next topic, you will learn about the complexities of moving out and getting a place of your own.  How much will you need to have saved to move out?  What are the laws associated with renting a place to live?  Will you eventually want to buy a home?  What is involved in buying a home?  Read on to find out!