Personal Finance Courses: Vehicle Acquisition

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1.
When financing a car, your options include _______.
Choose wisely. There is only one correct answer.
All of the above. You have several available options.
2.
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.
3.
When you lease a car, who pays for the insurance on it?
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You. You must pay for the insurance on it.
4.
When shopping for a car at a dealership, what might be the purpose of mentioning other dealerships that are offering the same car?
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The dealer might match their prices. The intimidation might work for some, but the main purpose is to make the dealer compete with the other dealers to get your business.
5.
If you see a group of three numbers such as 50/100/15 in reference to auto insurance coverage, what type of coverage are you seeing?
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Liability coverage. These numbers refer to the limits on bodily injury per person, bodily injury per accident, and property damage.