Personal Finance Courses: Vehicle Acquisition

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1.
When financing a car, your options include _______.
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All of the above. You have several available options.
2.
The price that a car dealership paid for a vehicle it bought is called the _______.
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Wholesale price. Dealers buy vehicles at wholesale prices and then resell them at retail prices.
3.
The cost of ownership of a vehicle is the same as the price you paid for it.
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False. The cost of ownership is the various expenses you will pay for the vehicle over the time that you own it.
4.
It is always good to buy an extended warranty on a vehicle.
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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.
5.
Why is it important to know your credit score if you plan to lease a vehicle?
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Your credit score factors into your monthly payments. It affects your lease rate, which helps determine your monthly payments.