Personal Finance Courses: Vehicle Acquisition

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1.
What part of a car lease's monthly payments is tax-deductible for consumers (as opposed to businesses) who lease?
Choose wisely. There is only one correct answer.
Sales tax. Sales tax is deductible.
2.
You can get an auto loan at a bank, a credit union, or from the dealer. Which of these options likely offers the least favorable terms?
Choose wisely. There is only one correct answer.
Dealer. As a general rule, banks and credit unions give you better terms.
3.
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.
4.
When shopping for a car at a dealership, what might be the purpose of mentioning other dealerships that are offering the same car?
Choose wisely. There is only one correct answer.
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.
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.