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.
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.
3.
When preparing to buy a vehicle, it is a good idea to prepare financially as well. Some costs, such as gas and insurance, should be factored into your monthly budget.
Choose wisely. There is only one correct answer.
True. It is a good idea to budget for these costs so you have money available for them.
4.
When you lease a car, who pays for the insurance on it?
Choose wisely. There is only one correct answer.
You. You must pay for the insurance on it.
5.
When shopping for a car at a dealership, what might be the purpose of mentioning other dealerships that are offering the same car?
Choose wisely. There is only one correct answer.
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.