Personal Finance Courses: Vehicle Acquisition

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
Most car leases state an annual mileage limit.
Choose wisely. There is only one correct answer.
True. The limit is usually between 10,000 and 15,000 miles.
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.
Cars with the lowest prices will necessarily have the lowest costs of ownership over time.
Choose wisely. There is only one correct answer.
False. True cost of ownership can actually be higher, based on factors such as tax credits, depreciation, maintenance, and other important aspects.
4.
When financing a car, your options include _______.
Choose wisely. There is only one correct answer.
All of the above. You have several available options.
5.
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.