10.4 Budgeting for Transportation | Baamboozle - Baamboozle

English 11 Public

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How much is car insurance (full coverage) for a 16-year old driver?

$7,625 a year for full coverage

$1,200 a year for full coverage

$600 a year for full coverage

15

All of the following are potential benefits of NOT owning a car EXCEPT:

shorter commute

Reduced carbon footprint

Opportunities for exercise

15

Which of the following costs would increase if you had a longer commute to work or school?

Vehicle registration fees

Parking fees

Car payments

Fuel and Maintenance

15

Why do teen drivers pay the highest car insurance rates?

answers will vary

15

What are some ways you can lower your car insurance as a teen driver?

Answers will vary

15

Female teen drivers usually pay less car insurance than male teen drivers

True

False

15

Which sentence best describes depreciation?

the reduction in the value of an asset over time.

general increase in prices and fall in the purchasing value

15

how are LEASE payments determined?

covers overall maintenance on the vehicle.

covers the depreciation of the vehicle + interest.

covers only the interest on the loan.

15

Which is not a guideline suggested when buying a car?

Only buy cars that are brand new

Buy a car that is at least 5 years old

Be able to save an equal amount to your car payment

Pay your for car in cash to avoid paying interest

15

True or False: From a financial perspective, buying a new car is always better than buying a used car.

True

False

15

What is one alternative to owning a car?

answers will vary

15