Personal Finance Courses: Vehicle Acquisition

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1.
What part of a car lease's monthly payments is tax-deductible for consumers (as opposed to businesses) who lease?
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Sales tax. Sales tax is deductible.
2.
When preparing to buy a vehicle, it is a good idea to prepare financially as well. Some costs, such as gas and insurance, should be factored into your monthly budget.
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True. It is a good idea to budget for these costs so you have money available for them.
3.
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.
4.
When shopping for a car at a dealership, what might be the purpose of mentioning other dealerships that are offering the same car?
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The dealer might match their prices. The intimidation might work for some, but the main purpose is to make the dealer compete with the other dealers to get your business.
5.
It is always good to buy an extended warranty on a vehicle.
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False. There is no set answer to this; it will depend on whether you think you will need a lot of repairs in the future.