New Car Buying

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Questions and Answers

Which type of car, used or new, is more likely to require repairs and maintenance? (New Car vs. Used)

  • New car
  • Neither used nor new cars
  • Used car (correct)
  • Both used and new cars

What is depreciation? (New Car vs. Used)

  • The decrease in value of a car over time (correct)
  • The amount of money you lose when selling a car
  • The increase in value of a car over time
  • The total cost of repairs and maintenance for a car

Which type of car, used or new, will mostly cost less to insure? (New Car vs. Used)

  • Both used and new cars
  • New car
  • Used car (correct)
  • Neither used nor new cars

What are two advantages of buying a new car?

<p>Higher reliability and longer warranty (C)</p> Signup and view all the answers

What are two disadvantages of buying a used car? (New Car vs. Used)

<p>Lower reliability and shorter warranty (C)</p> Signup and view all the answers

  1. What does the chart above show? (The Common Cost of Operating a Vehicle)

<p>The average annual cost of operating a car (D)</p> Signup and view all the answers

  1. On average, how much does car insurance cost per year? (The Common Cost of Operating a Vehicle)

<p>$1,115 (C)</p> Signup and view all the answers

  1. How much are the average costs for maintenance and tires each year? (The Common Cost of Operating a Vehicle)

<p>$766 for maintenance and $147 for tires (A)</p> Signup and view all the answers

  1. Which is the most expensive annual cost to operate a car? (The Common Cost of Operating a Vehicle)

<p>Fuel (D)</p> Signup and view all the answers

  1. How much does license, registration, and taxes cost per year for a car? (The Common Cost of Operating a Vehicle)

<p>$665 (D)</p> Signup and view all the answers

Which type of car is the chart showing the cost of ownership for? (The Ownership Cost of a New Car)

<p>Sedan (C)</p> Signup and view all the answers

What is the total purchase price or cash price for this car? (The Ownership Cost of a New Car)

<p>$20,108 (D)</p> Signup and view all the answers

After five years of ownership, what is the estimated true cost of this car? (The Ownership Cost of a New Car)

<p>$50,507 (C)</p> Signup and view all the answers

How much did the car depreciate (lose value) in the first year? (The Ownership Cost of a New Car)

<p>$3,724 (A)</p> Signup and view all the answers

What is the average amount a person will spend on car insurance each year? (The Ownership Cost of a New Car)

<p>$1,279 (C)</p> Signup and view all the answers

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New Car vs. Used Car PDF

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