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Car Finance Buy Lease Insurance Flashcards | StudBud
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Car Finance Buy Lease Insurance
Car Finance Buy Lease Insurance
30 terms
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StudBud Administration
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67 plays
A game about buying a car and car insurance. High school grade level.
Flashcards
30 cards
F
Practice quiz
P
Host live
L
Questions
30
Answers
1
True or False: It's better to lease a car if you plan to own it for a long time
True
False
2
All of the following will save you money on your insurance premium except:
Being female and living in a safe area
Buying a red sports car that is tricked out
Having a good education and a good job
Having good grades
3
This is the best place to find out how much your used car is worth
Kelley Blue Book
Dealership of the car brand
Used Car Dealer
Police Officer
4
When you buy a car with a down payment, borrow the money for the rest and pay it back+ interest
Insurance
Deductable
Financing
Leasing
5
Which of these is NOT an advantage of buying (financing) a car?
Lower down payment and fees
Freedom to drive as many miles as you like without paying extra fees.
Save more money over time if you keep the car longer
You own the car once you finish paying for it.
6
The higher this, the better interest rates you'll get on a car loan:
Premium
Savings Account Balance
Credit Score
Checking Account Balance
7
Which of these things can happen if you are driving without insurance and injure someone
All of the Above
Jail time
Pay wages for the time they had to miss work
You must replace their property
8
This is the process of letting the state know that you have a have a car and plan to drive it:
Insurance
Lease
Finance
Registration
9
Which of these is NOT a factor of how much your monthly car payments will be? (Or any loan)
Interest Rate
Length of Loan
Race
Amount Financed
10
Which of these is NOT an advantage of leasing a car?
Save more money over time
Less maintenance and repair costs
Lower monthly payments
New model of car with updated technology
11
Car insurance plan that covers YOU and YOUR property if you are at fault
Progressive
Comprehensive
Liability
Collision
12
Why is it important to have adequate limits on your liability insurance?
You must pay out of pocket for anything over your limit
all of the above
If you cannot afford to pay, your wages can be garnished
if you don't have adequate limits, you're not really insured
13
How long of a period should you finance a car for?
Straight cash, homie
Ideally under three years, but not longer than four
As long as possible
Four to seven years
14
With which option do you own the car at the end of the term?
leasing
financing
15
All of the following are moving violations except:
Speeding
Careless Driving
Reckless Driving
Tail Light bulb out
16
All of these can offer you a higher trade in value for your used car, except:
Your mom
Private Sale based on Kelley Blue Book value
Carmax
Car Dealership
17
This type of insurance covers pretty much everything, including theft:
Collision
Comprehensive
AAA
Liability
18
What three documents do you need to have with you when driving?
License
Proof of Insurance
Title
Registration
19
Amount that you pay out of pocket with a collision or comprehensive plan before insurance pays
PiP
Deductible
Premium
Rate
20
True or False: The higher the deductible the better.
True
False
21
Which type of ticket adds points to your license?
Moving Violation
Equipment Violation
Street Sweeping Ticket
Parking Ticket
22
When you get one of these, you are asking an insurance company how much insurance would cost
an attitude
a deductable
a quote
a premium
23
What is the name for the monthly payment that you pay to keep an insurance policy?
Policy
Interest
Premium
Fee
24
Which of these is NOT something that might influence your insurance premium
Gender
Where you drive
What type of car you drive
None--they all influence your premiums
25
Car insurance that covers OTHER PEOPLE and THEIR PROPERTY when you are at fault:
Comprehensive
Collision
Liability
Deductable
26
This is the term for when an asset, like a car, loses value
Appraisal
Deportation
Appreciation
Depreciation
27
All of the following is true when you lease a car, except:
You own the car when it's paid off
You're essentially renting the car
You cannot make any modifications to the car
Your insurance will cost more
28
This type of auto insurance is the most important to have:
Liability
What's Insurance?
Collision
Comprehensive (Full Coverage)
29
Which of the following should you not do if pulled over at night?
Be polite
Ask before reaching for your documents
Turn your interior lights on
Get out of the car as the officer is approaching
30
When do new cars depreciate the most?
They don't depreciate; they go up in value
In year 5
After four years
As soon as you buy them, and for the first year
