Personal Finance Courses: Vehicle Acquisition

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1.
You can get an auto loan at a bank, a credit union, or from the dealer. Which of these options likely offers the least favorable terms?
Choose wisely. There is only one correct answer.
Dealer. As a general rule, banks and credit unions give you better terms.
2.
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.
3.
How might the "loss of use" coverage help you if your car is being repaired for an insured loss?
Choose wisely. There is only one correct answer.
It would pay for a temporary car for you. The loss of use coverage reimburses you for the temporary inability to use your vehicle.
4.
Your car's license plate establishes you as the legal owner of the vehicle.
Choose wisely. There is only one correct answer.
False. The title, not the license plate, does this.
5.
What is a vehicle's cost of ownership made of?
Choose wisely. There is only one correct answer.
The various expenses you will pay for the vehicle over the time that you own it. Cost of ownership takes into account any costs you will pay while owning it.