Personal Finance Courses: Vehicle Acquisition

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Choose wisely. There is only one correct answer to each question.

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1.
Liability coverage on an automobile insurance policy covers damages that you cause to _______.
Choose wisely. There is only one correct answer.
Other people. Liability covers others, not you. Other forms of coverage will cover you.
2.
Before you buy a car, you can get a pre-approved loan from a financial institution.
Choose wisely. There is only one correct answer.
True. This can be to your advantage when negotiating the terms of the deal.
3.
When shopping for a car at a dealership, what might be the purpose of mentioning other dealerships that are offering the same car?
Choose wisely. There is only one correct answer.
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.
4.
What is probably the biggest advantage of buying a used vehicle instead of a new one?
Choose wisely. There is only one correct answer.
The price. For most people, price is the biggest advantage.
5.
Most car leases state an annual mileage limit.
Choose wisely. There is only one correct answer.
True. The limit is usually between 10,000 and 15,000 miles.