Personal Finance Courses: Vehicle Acquisition

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1.
If someone steals a precious ornament from the hood of your car, that theft would be covered under _______ coverage.
Choose wisely. There is only one correct answer.
Comprehensive. Comprehensive coverage pays for non-collision damages.
2.
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.
3.
If you get a loan from a financial institution before you actually buy the item you are planning to purchase, the loan is called _______.
Choose wisely. There is only one correct answer.
Preapproved. Preapproved means that you were approved for a loan in advance of actually needing it.
4.
On average, auto insurance will cost you less if your car is _______.
Choose wisely. There is only one correct answer.
Used. Generally, insurance on a used car costs less when the car is used.
5.
Which of the following is a disadvantage of leasing a new car?
Choose wisely. There is only one correct answer.
All of the above. All these factors are potential disadvantages of a new car lease.