10.4 Budgeting for Transportation | Baamboozle - Baamboozle

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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

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

shorter commute

Opportunities for exercise

Reduced carbon footprint

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

Fuel and Maintenance

Car payments

Vehicle registration fees

Parking fees

Why do teen drivers pay the highest car insurance rates?

answers will vary

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

Answers will vary

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

True

False

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

how are LEASE payments determined?

covers the depreciation of the vehicle + interest.

covers only the interest on the loan.

covers overall maintenance on the vehicle.

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

Pay your for car in cash to avoid paying interest

Be able to save an equal amount to your car payment

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

False

True

What is one alternative to owning a car?

answers will vary

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