12.

Citing evidence found in credit applications, compare and contrast various types of credit and calculate the real cost of borrowing. Explain factors that can affect the approval process associated with each type. Identify typical information and procedures required in the credit application process. Analyze factors associated with the purchase of an automobile and defend a specific buying decision, including<ol type="a"><li>Define and understand factors most often included in negotiations (such as cash vs. financing, inclusion of trade-in, etc.)</li><li>Evaluate costs and benefits of different service contract and/or warranty options</li><li>Compare and contrast available financing options based on consumer characteristics and size of down payment</li></ol>