Buying/Leasing a Car

Front

What is depreciation?

Back

Depreciation is the reduction in the value of an asset over time, particularly in relation to vehicles, where new cars lose value faster than used cars.

Front

What are the advantages of leasing a vehicle?

Back

Advantages of leasing a vehicle include lower monthly payments, the ability to drive a new vehicle more frequently, and often included standard maintenance.

Front

What is a common misconception about buying new vs. used cars?

Back

A common misconception is that buying a new car is always better than buying a used car; however, this is not necessarily true.

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5

Front

What is the best financial option for acquiring a car according to Dave Ramsey?

Back

According to Dave Ramsey, the best option to save the most money when acquiring a car is to pay cash for a used car.

Front

What is a car lease?

Back

A car lease is a long-term rental agreement for a vehicle, where the lessee makes monthly payments and must return the car at the end of the lease term.

Front

What is the difference between buying and leasing a car?

Back

Buying a car means you own it outright, while leasing means you are essentially renting it for a set period with the obligation to return it.

Front

What is a down payment in the context of buying a car?

Back

A down payment is an upfront payment made when purchasing a car, which reduces the amount financed.

Front

What does it mean to finance a car?

Back

Financing a car means taking out a loan to purchase the vehicle, which is then paid back over time with interest.

Front

What is the term for a car that has significant defects?

Back

A 'lemon' is a term used to describe a car that has significant defects that impair its use, value, or safety.

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Front

What factors can affect the cost of auto insurance?

Back

Factors affecting auto insurance costs include the driver's age, driving history, type of vehicle, and location.