Personal Finance Courses: Vehicle Acquisition

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1.
Before you buy a car, you can get a pre-approved loan from a financial institution.
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True. This can be to your advantage when negotiating the terms of the deal.
2.
What is probably the biggest advantage of buying a used vehicle instead of a new one?
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The price. For most people, price is the biggest advantage.
3.
With regard to cars, what is the "dealer's price"?
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The price the dealer paid when it bought the car. It is also known as the wholesale price.
4.
When you lease a car, who pays for the insurance on it?
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You. You must pay for the insurance on it.
5.
If you see a group of three numbers such as 50/100/15 in reference to auto insurance coverage, what type of coverage are you seeing?
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Liability coverage. These numbers refer to the limits on bodily injury per person, bodily injury per accident, and property damage.