Podcast
Questions and Answers
Jeff can afford a down payment of $1,500 for the used car.
Jeff can afford a down payment of $1,500 for the used car.
False (B)
The asking price for the car Jeff is interested in is $8,500.
The asking price for the car Jeff is interested in is $8,500.
True (A)
The salesman informs Jeff that he can keep his monthly payments under $300 without increasing the down payment.
The salesman informs Jeff that he can keep his monthly payments under $300 without increasing the down payment.
False (B)
Jeff is considering buying a similar car from a friend that comes with a warranty.
Jeff is considering buying a similar car from a friend that comes with a warranty.
Jeff has a budget for monthly payments up to $275.
Jeff has a budget for monthly payments up to $275.
Jeff can afford a down payment of $______.
Jeff can afford a down payment of $______.
The asking price for the car Jeff is considering is $______.
The asking price for the car Jeff is considering is $______.
Jeff's friend is selling a similar car, but it does not come with a ______.
Jeff's friend is selling a similar car, but it does not come with a ______.
The salesman suggests that Jeff needs to make a larger down payment to keep monthly payments under $______.
The salesman suggests that Jeff needs to make a larger down payment to keep monthly payments under $______.
Jeff needs to save some money for car ______.
Jeff needs to save some money for car ______.
Flashcards
Maximum monthly payment
Maximum monthly payment
The highest amount Jeff can afford to pay monthly for a used car.
Down payment
Down payment
An initial payment made when purchasing a car.
Asking price
Asking price
The price the seller wants for the used car.
Warranty
Warranty
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Car Insurance
Car Insurance
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Jeff's budget
Jeff's budget
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Dealership's offer
Dealership's offer
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Trade-off
Trade-off
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Warranty's role
Warranty's role
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Insurance factor
Insurance factor
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Study Notes
Buying a Used Car
- Jeff is trying to buy a used car.
- He can afford a 1,200downpaymentandupto1,200 down payment and up to 1,200downpaymentandupto275 per month.
- The car salesman wants a higher down payment to keep monthly payments under $300.
- The asking price for the car is $8,500.
- This price includes a 90-day warranty.
- Jeff cannot afford the higher down payment or higher monthly payments.
- He needs money for car insurance.
- Another car, with similar features, is available from a friend, but it doesn't include a warranty.
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Description
This quiz explores the challenges Jeff faces while attempting to purchase a used car. With a limited budget for down payment and monthly payments, he must navigate the market and evaluate his options, including warranties and offerings from friends. Test your understanding of budgeting and decision-making in used car purchases.
