Personal Finance Courses: Vehicle Acquisition

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1.
If you get a loan from a financial institution before you actually buy the item you are planning to purchase, the loan is called _______.
Choose wisely. There is only one correct answer.
Preapproved. Preapproved means that you were approved for a loan in advance of actually needing it.
2.
Who sells extended warranties on vehicles?
Choose wisely. There is only one correct answer.
All of the above. All of these parties sell extended warranties.
3.
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.
4.
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.
5.
If you are leasing a new vehicle and planning to drive it more miles than are allowed in the contract, _______.
Choose wisely. There is only one correct answer.
You will have to pay a fee for the excess miles. The contract specifies a certain number of miles that you can drive.