1. EPF.10f Demonstrate comparison shopping skills
EPF.11a Compare the costs and benefits of purchasing
vs. leasing a vehicle
EPF.11f Evaluate discretionary spending decisions

2. Comparison shopping provides information to help consumers
obtain the best quality for the best price.

3. What are some of the considerations
to be taken when comparison
shopping?
• value
• time
• convenience
• dollar costs
• payment options
• negotiations of prices and terms
• the consequences of conspicuous consumption
• opportunity cost
• costs and benefits.

4. There are costs and benefits to purchasing a vehicle and costs
and benefits to leasing a vehicle.

5. What are the steps in purchasing or leasing
a vehicle?
1. Consumers should identify several alternative
vehicles, including new and used.
2. Consumers should gather information and test-drive
multiple vehicles.
3. Consumers should compare each alternative to the
criteria established to determine which vehicles best
meet them, keeping in mind that not all criteria are
equally important.

6. What are the costs and benefits of
purchasing vs. leasing a vehicle?
Considerations in purchasing or leasing a vehicle may include:
 performance
 safety
 odometer mileage
 average miles driven annually
 fuel consumption
 size
 appearance
 price/payment limit
 insurance costs, taxes, and maintenance
 options/features
 warranty
 depreciation and resale.

7. What are subjective and objective sources of
purchase and lease information?
 Information should include both:
 subjective resources
 advertisements
 sales representatives
 consumer reviews
 objective resources
 statistically based research
 published consumer data – ex. Consumer Reports

8. Consumers should weigh costs and benefits to prioritize
discretionary spending decisions.

9. What is discretionary spending?
 Discretionary spending is spending for goods and
services beyond the essentials of food, shelter, and
clothing.
 Discretionary spending allows consumers freedom of
choice in what to purchase and how much to spend on
such things as education, health
care, entertainment, transportation, and
communication technology.

10. What tools can consumers use to
evaluate discretionary spending
decisions?
 Consumers can weigh costs and benefits of alternative
spending choices.
 Consumers can use decision models to clarify choices.
 Consumers can consider saving as an alternative to
current spending.