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Financial Literacy on cars Flashcards | StudBud

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what is the difference between leasing and buying a car

what is the purpose of a car warranty

Financial Literacy on cars

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Answers

1
what is the purpose of a car warranty
to provide free gas
to cover repair costs for a certain period
to lower insurance
to cover routine maintenance
2
what is the difference between leasing and buying a car
Leasing includes free gas
leasing means you don't own the car
leasing is cheaper
buying requires no payments
3
What is a down payment
A Type of car maintenance
The monthly payment for a car loan
the initial Payment made when buying a car
A Fee for car insurance
4
what is car depreciation
cost of car maintenance
decrease in car value over time
Increase in car value over time
car insurance protection
5
why is it important to shop around for car loans
To find the best loan terms and interest rates
to get a longer term payment
to avoid paying a down payment
To find the highest interest rate
6
What does comprehensive car insurance cover
only theft
Both theft and accidents
routine maintenance
only accidents
7
what can help lower your car insurance
Driving an expensive car
Having a poor record
living in a high crime area
Bundling insurance policies
8
Which of the following affects your car loan interest rate the most
age of the car
Car brand
Credit score
Car Color