Personal Finance Major Purchases

Planned buying begins with...

• asking a friend for advice
• waiting for a sale
• identifying a need or desire

The difference between a need and want is...

• Size
• Essentiality for survival
• Shape

Preshopping Research can be important when...

• you want to randomly pick items
• you want to avoid saving money
• you want to compare prices

The first item in your budget you can look to cut funds from is...

• clothing

• food

• housing

The final price Haley pays for a car will be determined by...

• Weather conditions on the day of purchase
• financing or leasing terms

• Color of the car

The dealer invoice price is...

• the cost of maintenance for the vehicle
• the amount the dealer receives from selling the vehicle
• the amount the dealer pays the manufacturer for the vehicle

A good time of year for a best buy purchase is...

• Back to school sales in September
• Black Friday sales in November
• Valentine's Day in February

A recall on a car is...

• manufacturer decides to give out free upgrades

• the dealership offers a discount

• a vehicle has a safety-related defect

Being upside down on a purchase means...

• Being in a negative equity position.
• Being in a positive equity position.
• Owning multiple properties.

Loan pre approval will save you money by...

• increasing your chances of getting a better loan rate

• increasing your interest rates.
• decreasing your purchase price