Personal Finance Courses: Vehicle Acquisition

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1.
Why is it important to know your credit score if you plan to lease a vehicle?
Choose wisely. There is only one correct answer.
Your credit score factors into your monthly payments. It affects your lease rate, which helps determine your monthly payments.
2.
Your car's license plate establishes you as the legal owner of the vehicle.
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False. The title, not the license plate, does this.
3.
Cars with the lowest prices will necessarily have the lowest costs of ownership over time.
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False. True cost of ownership can actually be higher, based on factors such as tax credits, depreciation, maintenance, and other important aspects.
4.
Financial advisors usually recommend that your car payments should be how much of your take-home pay at the most?
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20%. This is the common recommendation.
5.
Who sells extended warranties on vehicles?
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All of the above. All of these parties sell extended warranties.