Personal Finance Courses: Vehicle Acquisition

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1.
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.
2.
Most car leases state an annual mileage limit.
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True. The limit is usually between 10,000 and 15,000 miles.
3.
Before you buy a car, you can get a pre-approved loan from a financial institution.
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True. This can be to your advantage when negotiating the terms of the deal.
4.
Who sells extended warranties on vehicles?
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All of the above. All of these parties sell extended warranties.
5.
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.