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When considering major purchases, its always best to buy new products.

True

False

False. Very often one can afford more bells and whistles by considering used products.

The definition of "large purchase" is standard and accepted by everyone.

True

False

False. The definition varies according to people, families, and businesses, often by their economic conditions.

Which answer is most correct regarding the use of credit when making a major purchase?

Because of the high interest rates, credit cards should never be used.

Credit cards can be used to establish credit or to reestablish credit.

Credit cards might be used when an emergency necessitates making a purchase immediately.

B and C

B and C. All efforts should be made to avoid using credit cards, but there are occasions when they can and should be used.

Buying a major purchase now instead of later is a perfect way to save money on it.

True

False

False. Waiting a while might net you a discount that wasnt there earlier, and it may also provide you the means to pay for it (such as with a tax refund).

Which of the following are advantages of buying used rather than new?

You can still get the bells and whistles that you want.

You can afford your major purchase now rather than waiting until you have saved enough.

You can avoid using credit for your purchase.

All of the above

All of the above. There are even more advantages than these; for example, you might still get some kind of a warranty.