Can't think of anyone off the point of my head here who can help, but maybe I am blanking out. The fourteen year old needs to ask a couple questions of people who work for three of these five types of lending institutions:
* commercial bank
* savings & loan
* savings bank
* credit union
* finance company
If you can help, let me know, thanks!
The questions are below so you know what you are/aren't getting into.
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Suppose that you want to buy a used car. After visiting several car
lots you decide on a sporty four-year-old (fill in the blank) at Happy Harry's
Real Deals. After sharpening his pencil and giving you the best possible deal,Harry agrees to sell the car to you for $8999. Don't forget, you will also have to pay state sales tax and license and title fees before you are able to drive away. These additional charges will differ from state to state. For the purpose of our discussion, let's assume that the state sales tax is 6 percent of the price of the car, and the license and title fees will cost you another $275. Of course, at the present time, you don't have $9814. Unless Uncle Charlie handsyou the money, you will, like most of us, need to buy the car on credit.
As you have learned in this lesson, there are several different types
of financial institutions that may loan you the money. Select
three different kinds of lending institutions from those available in your area. Contact each lender to gather the following information:
1.Do they lend money for this type of purchase?
2. What are the requirements an individual must meet in order to get the loan?
3. What is the maximum length of time (years/months) for this loan? Remember you are buying a four-year-old used car.
4. What is your total cost, including the principal (amount of loan), the interest, and any special service charges?
School Project & Lending Institutions, Anybody? 
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