The Cost of Owning a Car Quiz

What is the average cost of a used car as of March 2023?

• $26,213

• $10,728

• $48,008

• $9,666

Which of the following is not a cost associated with car ownership?

• Insurance

• Rent

• Fuel

• Registration

How can car owners save on car ownership?

• Drive more frequently

• Avoid routine maintenance

• Choose a vehicle with high maintenance costs

• Shop for cheaper car insurance

When is it time to replace a car?

• When the car is brand new

• When the car has good fuel efficiency

• When the car requires frequent maintenance

• When the car is registered

What is one advantage of buying a new car?

• Lower out-of-pocket costs

• Lower insurance costs

• Higher repair costs

• Lower maintenance costs

What is one disadvantage of buying a new car?

• Lower out-of-pocket costs

• Lower maintenance and repair costs

• Lower fuel efficiency

• Higher upfront costs

What can help reduce fuel costs for car owners?

• Buying a hybrid or electric car

• Choosing a larger vehicle

• Avoiding routine maintenance

• Driving more frequently

What should car owners consider when thinking about replacing their vehicle?

• Family or lifestyle changes

• Chronic maintenance issues

• Poor fuel efficiency

• All of the above

How can car owners get a lower rate on their car insurance?

• Avoid routine maintenance

• Drive more frequently

• Choose a vehicle with higher insurance costs

• Shop for cheaper car insurance

Why are used and new vehicles so expensive right now?

• Due to lower insurance costs

• Due to lower production costs

• Due to lower demand

• Due to inflation and supply chain issues