1. SMART CONSUMER

2. Housing Vocabulary Rent Security deposit Sublet Foreclosure Downpayment Tenant Interest rate Title Appraisal Lessor Closing Equity Property tax Landlord Mortgage Lease

3. If a home owner borrowed 300,000 in a mortgage to be repaid in monthly installments of $2,100 for 20 years, the total amount (principal and interest repaid is about ?

4. The Johnsons wanted to purchase an $450,000 home; the savings and loan association agreed to finance 80% of the selling price of the home. How much would the Johnsons have to make in a down payment?

5. Sue and Frank have an annual take-home pay of $100,000. About what is the maximum the can afford to spend on a house?

6. Buying and Auto 1 st step – type, need, afford Research – consumer reports, Kelly’s blue book Sticker price – suggested retail price Visit a MINIMUM of 3 times AAA – Automobile Association of America

7. Auto Vocabulary Vehicle emission test Lowballing – buyer quoted low price for trade then seller pretends to be talked into a higher amount Highballing – buyer offered high price for trade then seller states that too much is being offered but can buy nicer car. Packs – extras that add little or no value like rust-proofing, dealer services, etc. Financing – credit unions, car dealers, banks Leasing – no ownership

8. Other Costs Gas Oil Depreciation (odometer) Registration and titling Maintenance Accessories

9. Lemon Laws First year if you bring the car in 4 times without fixing it. Or if your car has been out of service for a total of 30 days. Lawsuit is needed.