Personal Finance Courses: Vehicle Acquisition

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1.
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.
2.
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.
3.
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.
4.
If your take-home pay after taxes is $1,000 a month, then your car payments should ideally be how much at the most?
Choose wisely. There is only one correct answer.
$200. A popular recommendation is that your total monthly car payments should not exceed 20% of your take-home pay.
5.
Liability coverage on an automobile insurance policy covers damages that you cause to _______.
Choose wisely. There is only one correct answer.
Other people. Liability covers others, not you. Other forms of coverage will cover you.