Personal Finance Courses: Vehicle Acquisition

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1.
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.
Choose wisely. There is only one correct answer.
True. It is a good idea to budget for these costs so you have money available for them.
2.
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.
3.
What part of a car lease's monthly payments is tax-deductible for consumers (as opposed to businesses) who lease?
Choose wisely. There is only one correct answer.
Sales tax. Sales tax is deductible.
4.
It is always good to buy an extended warranty on a vehicle.
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False. There is no set answer to this; it will depend on whether you think you will need a lot of repairs in the future.
5.
Before you buy a car, you can get a pre-approved loan from a financial institution.
Choose wisely. There is only one correct answer.
True. This can be to your advantage when negotiating the terms of the deal.