Basics Beginner: Things to Ask Yourself about Large Purchases

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Choose wisely. There is only one correct answer to each question.

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1.
When considering major purchases, its always best to buy new products.
Choose wisely. There is only one correct answer.
False. Very often one can afford more bells and whistles by considering used products.
2.
If you have destroyed your credit in the past, you should _______ making a major purchase on credit again.
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Sometimes consider. Provided that you pay it back according to the terms of the credit card, you can use a major purchase as a way to reestablish credit.
3.
Which of the following are conditions for determining whether a purchase is a major one?
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All of the above. People use any or all of these to determine whether something they want to buy qualifies as a major purchase.
4.
When researching a major purchase to buy, listing all the features you must have and all the features you would like to have can help you separate your wants from your needs.
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True. Getting a good sense of the luxury features and the necessary features can give you the needed perspective.
5.
Which answer is most correct regarding the use of credit when making a major purchase?
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B and C. All efforts should be made to avoid using credit cards, but there are occasions when they can and should be used.