Personal Finance Courses: Vehicle Acquisition

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1.
If you are leasing a new vehicle and planning to drive it more miles than are allowed in the contract, _______.
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You will have to pay a fee for the excess miles. The contract specifies a certain number of miles that you can drive.
2.
What is probably the biggest advantage of buying a used vehicle instead of a new one?
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The price. For most people, price is the biggest advantage.
3.
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.
4.
Who sells extended warranties on vehicles?
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All of the above. All of these parties sell extended warranties.
5.
What well known book lists both wholesale and retail prices of used cars?
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Kelley Blue Book. This book is the most well known source of both wholesale and retail prices of used cars.