Personal Finance Courses: Vehicle Acquisition

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1.
When shopping for a car at a dealership, what might be the purpose of mentioning other dealerships that are offering the same car?
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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.
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.
Financial advisors usually recommend that your car payments should be how much of your take-home pay at the most?
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20%. This is the common recommendation.
4.
Most car leases state an annual mileage limit.
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True. The limit is usually between 10,000 and 15,000 miles.
5.
How might the "loss of use" coverage help you if your car is being repaired for an insured loss?
Choose wisely. There is only one correct answer.
It would pay for a temporary car for you. The loss of use coverage reimburses you for the temporary inability to use your vehicle.