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housing and automobile purchase Flashcards | StudBud
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housing and automobile purchase
security deposit is
Amenities in living space may include
housing and automobile purchase
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1
Amenities in living space may include
internet service
extra insulation
carpet in bedroom
kitchen appliances
2
security deposit is
fee for management
purchase price of house
cost of using someone else property
advance payment for wear and tear
3
Cosigner is a person who
loan money to consumer
pay for major person with cash
guaranteeing a loan for original borrower
apply for a loan
4
Home ownership advantage
decrease privacy
property value decrease
time, money and energy commitment
build equity
5
Which is most often the characteristic of a new vehicle
less expensive
warranty
less depreciation
pre-owned
6
How much an individual allocates to spend on housing depends on:
wants
needs
personal values
all of the above
7
Before a renter takes possession they will be expected to
pay a security deposit
receive a mortgage
acquire renter's insurance
pay utility bill
8
Base price quoted for the price of a car
price buyer has in mind
most popular options
only standard equipment
where negotiations begin
9
Automobile loans is calculated using which variable?
make and model
money is savings
age of borrower
down payment
10
Equity that you build when making mortgage payments
amount of money used as down payment
home loan with real estate as collagen
purchasing housing unit as rental
value of home after mortgage is subtracted
11
This occurs when tenant does not voluntarily move out
amenities
eviction
written agreement
none of above
12
Two apartments that are like separate homes side by side
mobile home
condominium
apartment
duplex
13
home ownership disadvantage
pride of ownership
property may decrease in value
time, money and energy commitment
build equity
14
Lemon law is designed for
multiple cars
new cars
used cars
foreign cars
15
Legal contract between tenant and landlord
purchase agreement
lease
verbal agreement
mortgage
16
Automobile loan is considered
unsecured
secured
revolving
non-installment
17
Rent is defined as
cost of using others property
fee for management tasks
purchase price for housing
advance payment for wear and tear
18
Which is a step in the process of buying a car?
pre-shopping research
purchase car on impulse
read auto trend magazine
write thank you to dealer
19
which is true of loan variables
higher the APR the lower the total loan
longer the time the smaller the payments
longer the time the less interest paid
higher the APR the less interest paid
20
Components that affect the amount of mortgage payment
stability of the lending institution
interest rate, amount borrowed, length of loan
collateral available
gender and age of person
21
Monthly expense associated with owning a home includes
security deposit
rent
real estate property taxes
parking fees
22
Credit history and expected length to stay are factors to consider when making housing choice
buy a home above ability to pay
rent or buy
buy multiple homes
rent home with option to buy
23
According to the Bureau of Labor Statistics what is the largest expenditure for a family?
entertainment
food
transportation
housing
24
When a tenant moves out and allows someone else to take over rental payments
renting
fulfilling responsibilities
securing a lease
subleasing
25
Total cost of an automobile will include the following
price of automobile
amount of interest
down payment minus loan
loan, insurance, licensing and fuel
26
Most common lender for automobiles
family
insurance policy
commercial banks
credit cards
27
Advantage of renting
receive tax deduction
fewer responsibilities
build equity
all of the above
28
Some new cars have defect. Unfixed defects after four attempt
lemon
lesson learned
reason to buy new car
reason to change dealers