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10.4 Budgeting for Transportation
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What are some ways you can lower your car insurance as a teen driver?
Answers will vary
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How much is car insurance (full coverage) for a 16-year old driver?
$1,200 a year for full coverage
$600 a year for full coverage
$7,625 a year for full coverage
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Female teen drivers usually pay less car insurance than male teen drivers
False
True
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Which of the following costs would increase if you had a longer commute to work or school?
Parking fees
Vehicle registration fees
Car payments
Fuel and Maintenance
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Which sentence best describes depreciation?
general increase in prices and fall in the purchasing value
the reduction in the value of an asset over time.
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Which is not a guideline suggested when buying a car?
Be able to save an equal amount to your car payment
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
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True or False: From a financial perspective, buying a new car is always better than buying a used car.
False
True
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how are LEASE payments determined?
covers only the interest on the loan.
covers overall maintenance on the vehicle.
covers the depreciation of the vehicle + interest.
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All of the following are potential benefits of NOT owning a car EXCEPT:
Opportunities for exercise
Reduced carbon footprint
shorter commute
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Why do teen drivers pay the highest car insurance rates?
answers will vary
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What is one alternative to owning a car?
answers will vary
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