personal finance
swf7
worksheets_7.1_7.3.xlsx7.1
| Worksheet 7.1 - Buy vs. Lease | |||
| Research options for your next vehicle on www.edmunds.com. Complete the worksheet below to assess the total cost and value of the option to buy versus lease. | |||
| Vehicle Make/Model/Year: ________________________________ | |||
| LEASING | PURCHASING | ||
| Cost of vehicle | |||
| Security deposit | Down payment | ||
| Monthly lease payments of ____ * ____ months = | Monthly loan payments of $_____ at ___% for _______months = | ||
| End of lease charges (if applicable) | |||
| Total cost of lease | Total cost to buy | ||
| Value of asset after ___ years | Value of asset after ___ years |
7.3
| Worksheet 7.3 - Home Equity | ||||
| Compare answers to these questions | Lender A | Lender B | Lender C | My Current Home Mortgage |
| Monthly mortgage payments | ||||
| Cost of credit (APR) | ||||
| Cost of borrowing (interest rate) | ||||
| If variable interest rate: | ||||
| How often | ||||
| By how much | ||||
| Points to be paid | ||||
| Fees to be paid | ||||
| Application or loan processing fee | ||||
| Origination or underwriting fee | ||||
| Lender or funding fee | ||||
| Appraisal fee | ||||
| Document preparation and recording fees | ||||
| Broker fees | ||||
| Application fees refundable? | ||||
| Years to repay | ||||
| Installment loan or a line of credit? | ||||
| Balloon payment | ||||
| Total closing costs | ||||
| Penalty for late or missed payments/Payoff | ||||
| Affordable? |
