Personal Finance Courses: Vehicle Acquisition

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1.
Which of the following is a disadvantage of leasing a new car?
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All of the above. All these factors are potential disadvantages of a new car lease.
2.
If your take-home pay after taxes is $1,000 a month, then your car payments should ideally be how much at the most?
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$200. A popular recommendation is that your total monthly car payments should not exceed 20% of your take-home pay.
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.
If you see a group of three numbers such as 50/100/15 in reference to auto insurance coverage, what type of coverage are you seeing?
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Liability coverage. These numbers refer to the limits on bodily injury per person, bodily injury per accident, and property damage.
5.
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.