Personal Finance Courses: Vehicle Acquisition

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1.
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.
2.
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.
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.
Cars with the lowest prices will necessarily have the lowest costs of ownership over time.
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False. True cost of ownership can actually be higher, based on factors such as tax credits, depreciation, maintenance, and other important aspects.
5.
Who sells extended warranties on vehicles?
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All of the above. All of these parties sell extended warranties.