Personal Finance Courses: Vehicle Acquisition

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1.
Who sells extended warranties on vehicles?
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All of the above. All of these parties sell extended warranties.
2.
The cost of ownership of a vehicle is the same as the price you paid for it.
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False. The cost of ownership is the various expenses you will pay for the vehicle over the time that you own it.
3.
With regard to cars, what is the "dealer's price"?
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The price the dealer paid when it bought the car. It is also known as the wholesale price.
4.
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?
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Dealer. As a general rule, banks and credit unions give you better terms.
5.
Why is it important to know your credit score if you plan to lease a vehicle?
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Your credit score factors into your monthly payments. It affects your lease rate, which helps determine your monthly payments.