What is the main financial risk associated with buying a new car?
How Cars Can Keep You Poor

Interactive Video
•
Life Skills, Business, Architecture
•
11th Grade - University
•
Hard
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5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Rapid depreciation
Frequent repairs
Expensive fuel consumption
High insurance costs
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much does a new car typically depreciate in the first five years?
20%
63%
40%
80%
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is leasing not a financially sound option according to the video?
Leasing cars have higher insurance rates
Leasing requires a large down payment
Leasing contracts are too short
You pay for the car's depreciation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the recommended strategies for buying a car?
Lease a car for short term
Finance a car with a long-term loan
Buy a car at least five years old
Buy a brand new car
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What could you potentially achieve by saving the money you would spend on a new car?
Pay off student loans
Invest in a growing asset
Travel the world
Buy another new car
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