Personal Finance Courses: Vehicle Acquisition

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1.
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.
2.
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.
3.
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.
4.
If your take-home pay after taxes is $1,000 a month, then your car payments should ideally be how much at the most?
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$200. A popular recommendation is that your total monthly car payments should not exceed 20% of your take-home pay.
5.
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.