Cars--Buying, Leasing, & Insurance

A term that describes an alternative to car buying where monthly payments are paid for a specific period of time, after which the vehicle is returned to the dealership or bought, is:

• car financing
• car ownership
• car maintenance
• car leasing

The loss of an asset's value over time is called

• depreciation
• equalization
• amoritization
• normalization

The cost of owning a car includes

• insurance
• repairs
• gas
• all of these

A manufacturer's warranty is an advantage when you

• buy a new car

• lease a car

• buy a used car

• buy or lease a new car

Which of the following is NOT a type of coverage in an automobile policy?

• liability
• extended warranty
• comprehensive
• collision

The _______________ is the cash you give to the dealer to lower the principal amount of the car.

• warranty expense
• interest amount
• down payment
• trade-in

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

A long-term rental of a car that allows a specific period of time and mileage is called

• purchasing a car
• borrowing a car
• leasing a car
• none of the above

By law, drivers are ___________ to pay for the damages they cause with their automobiles.

• not responsible
• negligent
• liable
• none of these

Tags

CCSS.RI.11-12.4

CCSS.RI.9-10.4

CCSS.RL.11-12.4

CCSS.RL.8.4

CCSS.RL.9-10.4

You are required by law to have car insurance.  

• True
• False

Insurance that pays for damage to your vehicle that is caused by something other than a collision is called

• comprehensive insurance.
• uninsured motorist insurance.
• collision insurance.
• liability insurance.