Personal Finance Courses: Vehicle Acquisition

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1.
Why is it important to know your credit score if you plan to lease a vehicle?
Choose wisely. There is only one correct answer.
Your credit score factors into your monthly payments. It affects your lease rate, which helps determine your monthly payments.
2.
It is always good to buy an extended warranty on a vehicle.
Choose wisely. There is only one correct answer.
False. There is no set answer to this; it will depend on whether you think you will need a lot of repairs in the future.
3.
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?
Choose wisely. There is only one correct answer.
Dealer. As a general rule, banks and credit unions give you better terms.
4.
What is a vehicle's cost of ownership made of?
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The various expenses you will pay for the vehicle over the time that you own it. Cost of ownership takes into account any costs you will pay while owning it.
5.
What well known book lists both wholesale and retail prices of used cars?
Choose wisely. There is only one correct answer.
Kelley Blue Book. This book is the most well known source of both wholesale and retail prices of used cars.