Personal Finance Courses: Vehicle Acquisition

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1.
Who sells extended warranties on vehicles?
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All of the above. All of these parties sell extended warranties.
2.
Most car leases state an annual mileage limit.
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True. The limit is usually between 10,000 and 15,000 miles.
3.
If you get a loan from a financial institution before you actually buy the item you are planning to purchase, the loan is called _______.
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Preapproved. Preapproved means that you were approved for a loan in advance of actually needing it.
4.
With regard to cars, what is the "dealer's price"?
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The price the dealer paid when it bought the car. It is also known as the wholesale price.
5.
What is probably the biggest advantage of buying a used vehicle instead of a new one?
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The price. For most people, price is the biggest advantage.