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WorksheetsUnit 7/ Major Purchases Review
Total questions: 10
Worksheet time: 5mins
What is an advantage to buying a used car over a new car?
Less miles
More maintenance after purchase
Less depreciation after purchase
More expensive
When you lease a car, you are paying for...
the depreciation of the vehicle + interest.
only the interest on the loan.
overall maintenance on the vehicle.
principal on the loan + interest.
What is the purpose of a security deposit?
It serves as a agreement to allow the tenant to use a property for an extended period of time
It is filled out by potential tenant which helps landlord determine if they will accept or deny the candidate
It is how landlords remove tenants for lease infractions
It is how landlords ensure that the property is cared for and that rent is paid
What is NOT an advantage to renting?
It is easier to move
Living expenses are generally lower
You are not responsible for maintenance
You are building equity
T / F: Buying a home is always more beneficial than renting a living space.
True
False
T / F: When budgeting for a vehicle only consider the cost of the monthly loan or lease payment.
True
False
Which of the the following sites could you utilize to find a fair price for a vehicle?
kbb.com
carfax.com
bbb.com
craigslist.com
When renting, what is an additional cost that you must account for?
Utilities
Down Payment
Closing Costs
Mortgage
What should be the deciding factor when deciding to lease or purchase a vehicle?
what your friends are doing
how much money you have at that moment
your personal financial situation and preferences
the economy
A written agreement that allows tenant to use property for a specified time period and rent is a ____________.
Rental Application
Security Deposit
Eviction
Lease
