Personal Finance Courses: Vehicle Acquisition

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1.
If you get a loan from a financial institution before you actually buy the item you are planning to purchase, the loan is called _______.
Choose wisely. There is only one correct answer.
Preapproved. Preapproved means that you were approved for a loan in advance of actually needing it.
2.
What part of a car lease's monthly payments is tax-deductible for consumers (as opposed to businesses) who lease?
Choose wisely. There is only one correct answer.
Sales tax. Sales tax is deductible.
3.
What is a vehicle's cost of ownership made of?
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The various expenses you will pay for the vehicle over the time that you own it. Cost of ownership takes into account any costs you will pay while owning it.
4.
Who sells extended warranties on vehicles?
Choose wisely. There is only one correct answer.
All of the above. All of these parties sell extended warranties.
5.
The price that a car dealership paid for a vehicle it bought is called the _______.
Choose wisely. There is only one correct answer.
Wholesale price. Dealers buy vehicles at wholesale prices and then resell them at retail prices.