Renting/Leasing vs Buying

Someone might choose to own a car instead of leasing a car because:

• it will be less expensive

• it will be more expensive

• it could lead to lower repair expenses

• it could be sold later on to make some money back on the vehicle

A car is a(n) ________________________ asset.

• appreciating

• depreciating

Tags

CCSS.RF.5.3A

CCSS.RF.4.3A

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.3.3B

Car leases usually have:

• unlimited terms

• minimum mileage agreements

• maximum mileage agreements

• none of these

Cars typically lose the most value in the second year after they are purchased.

• true

• false

With certain situations, a new car might actually wind up costing you less than an old car.

• true

• false

pays for losses that are out of your control (weather related, fire, hitting an animal, etc.)

• comprehensive

• collision

• liability

if you have to get a loan to purchase a vehicle it's known as...

• financing

• proof of insurance

• cash payment

APR means the same as...

• financing

• interest

• deductible

Your total automotive expenses should NOT exceed what percentage of your net pay?

• 10%

• 20%

• 30%

• 40%

Which type of BASIC auto insurance is required by law in most states?

• liabiltiy

• collision

• comprehensive

• personal injury