Car Financing 101

Before buying a car, it's important to determine how you're going to ______ for it.

pay

If you don't have an ______, your dream of owning a car is dead on arrival.

income

A car takes money to ______, such as gas, servicing, and licenses.

maintain

If you're not financially prepared for a car, your joy may soon turn into a ______.

nightmare Signup and view all the answers

The bills for owning a car will certainly ______ in.

come Signup and view all the answers

what you want to use the car for should determine the choice of car that you're going to buy if you're a banker and all you need is the convenience to go to your job and back then you may consider going for a ______

sedan Signup and view all the answers

if you're a plumber and you frequently move heavy metals and machinery then you may want to go for a ______

pickup truck Signup and view all the answers

if you're a student you may want to get a small car that can help you go to school and back ______

Signup and view all the answers

let's pretend that you live in a mountainous region where snow falls all winter buying a small car will be out of the equation unless you're getting it as an ______

extra Signup and view all the answers

if you drive long distances or you want to have a specific type of car then you may consider buying a ______

new car Signup and view all the answers

Buying a new car has the disadvantage of fast ______ as soon as you drive it off the dealership. If you paid $25,000, the value will drop to $20,000. From then, it will continue to depreciate.

depreciation Signup and view all the answers

Buying a new car has the disadvantage of ______.

higher taxes and insurance Signup and view all the answers

Buying a used car has the advantage of being ______.

cheaper Signup and view all the answers

Buying a used car has the advantage of paying ______.

lower rates and taxes and insurance Signup and view all the answers

Buying a used car has the advantage of putting you in a ______ if you made a good pick.

better financial state Signup and view all the answers

finance a car works like taking a loan from a ______

business Signup and view all the answers

if for instance the cost of the car is twenty thousand dollars you can get your bank to pay the dealer the amount will be spread out to you for a period of maybe five to six years you'll be paying this money to the bank ______

monthly Signup and view all the answers

you can also decide to make a ______ percent down payment for the car based on this example you'll pay eight thousand dollars as a down payment and then your bank will finance the remaining twelve thousand dollars

forty Signup and view all the answers

two ways to finance a car one through a ______

dealership Signup and view all the answers

when you upgrade a car that you're financing your monthly payments will as well go ______

up Signup and view all the answers