Personal Finance Courses: Vehicle Acquisition

Test your knowledge

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

0%
Keep studying!
Review your answers below to learn more.
1.
The cost of ownership of a vehicle is the same as the price you paid for it.
Choose wisely. There is only one correct answer.
False. The cost of ownership is the various expenses you will pay for the vehicle over the time that you own it.
2.
Financial advisors usually recommend that your car payments should be how much of your take-home pay at the most?
Choose wisely. There is only one correct answer.
20%. This is the common recommendation.
3.
If someone steals a precious ornament from the hood of your car, that theft would be covered under _______ coverage.
Choose wisely. There is only one correct answer.
Comprehensive. Comprehensive coverage pays for non-collision damages.
4.
What well known book lists both wholesale and retail prices of used cars?
Choose wisely. There is only one correct answer.
Kelley Blue Book. This book is the most well known source of both wholesale and retail prices of used cars.
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.