Personal Finance Courses: Vehicle Acquisition

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1.
Which of the following is a disadvantage of leasing a new car?
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All of the above. All these factors are potential disadvantages of a new car lease.
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.
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.
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.
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.