Personal Finance Courses: Vehicle Acquisition

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1.
When financing a car, your options include _______.
Choose wisely. There is only one correct answer.
All of the above. You have several available options.
2.
When preparing to buy a vehicle, it is a good idea to prepare financially as well. Some costs, such as gas and insurance, should be factored into your monthly budget.
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True. It is a good idea to budget for these costs so you have money available for them.
3.
Why is it important to know your credit score if you plan to lease a vehicle?
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Your credit score factors into your monthly payments. It affects your lease rate, which helps determine your monthly payments.
4.
If someone steals a precious ornament from the hood of your car, that theft would be covered under _______ coverage.
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Comprehensive. Comprehensive coverage pays for non-collision damages.
5.
The price that a car dealership paid for a vehicle it bought is called the _______.
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Wholesale price. Dealers buy vehicles at wholesale prices and then resell them at retail prices.