Buying a Car

You're likely to save more money in the long run if you...

• Buy a used car

• Lease a car

• Buy a new car

Most people cannot afford to pay for a new car in one day. Instead, people pay the cost over time, but sellers require a certain amount of money the day you buy it. This is called what?

• downpayment

• VIN

• insurance

• lease

What do you need to know about buying a car?

• How to select the right car

• The costs associated with having a car

• How to obtain suitable insurance

• All of the above

The most important thing to know about a car before buying is...

• The color

• The Vehicle History

• The size of the engine

• The MPG

What should you always do before buying a used car?

• Take it to a trusted mechanic

• Ensure it has a sunroof

• Check the car's color

• Buy it from a friend

What is one of the main points James makes about buying a used car?

• Used cars are always cheaper in the long run

• Operating costs for used cars can be much higher

• Insurance for used cars is always lower

• New cars depreciate faster than used cars

A disadvantage of buying a new car is:

• The car is clean and attractive

• It is covered with a 12-month warranty

• It’s expensive to purchase

• The car has the latest technology

The cost of a car is $25,000 and there is a 15% down payment. What is the down payment amount?

• $375,000

• $2,500

• $3,750

sum of costs in order to purchase, operate, and maintain a vehicle

• lease

• downpayment

• total cost of ownership (TCO)

• seller

An advantage of buying a used car is:

• The car could have faults

• The car is cheaper to purchase

• It generally won’t last as long

• It could need a lot of repairs