Car Depreciation

A disadvantage of buying a new car is it loses value faster than a used car. This is called

• Capital gain

• Inflation

• Depreciation

• Amortization

Which is NOT an expense of owning a car?

• Repairs & maintenance

• Gasoline

• License & registration fees

• Utilities

The term __________ refers to a decrease in the value of property as a result of use and age

• capitalized cost reduction

• decprecitation

• amortization

• residual value

The most common form of auto financing is a(n) _______.

• lease

• rental agreement

• installment loan

• cash sale

a piece of paper that proves who owns the car

• tag
• title
• tax

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

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...

• deductible
• interest
• financing

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 trade-in allowance is

• not available if there is a rebate
• not available if the selling price is less than the sticker price
• added to the sale price
• a discount resulting from trading in one car for another