Question: Match the terms relating to the basic terminology and concepts of personal finance-those associated with making automobile purchasing decisions-on the left with the descriptions of

Match the terms relating to the basic terminology and concepts of personal finance-those associated with making automobile purchasing decisions-on the left with the descriptions of the terms on the right. Read each description carefully and type the letter of the description in the Answer column next to the correct term. These are not necessarily complete definitions, but there is only one possible answer for each term. Term Answer Description Rebate | A. An insurance policy that pays the policyholder the difference between the actual cash value (ACV) that the insurance company pays when a vehicle is declared a total loss and the outstanding loan amount on the purchase of the vehicle The value of a leased asset at the end of the lease period Impulse purchase B. Lease C. 00 0 The purchase of a good or service without fully considering your priorities and the availability of any alternatives Dealer holdback D. A lease transaction, often called a walkaway lease, that allows the lessee, at the end of the lease period, to merely return the vehicle- assuming that he or she has not exceeded the preset mileage limit or abused the vehicle Closed-end lease E. 0 0 A partial refund of a car's purchase price that dealers give as an inducement to purchase Sticker price F. A rebate, which is a percentage of a vehicle's invoice price, paid by the manufacturer to the dealer, usually at end of the year or quarter, for the sale of a vehicle Residual value G. 0 0 Low-balling H . The popular name given to the manufacturer's suggested retail price (MSRP), which by federal regulation is posted on the vehicle's window The practice involving unethical car dealers who first quote a low sales price to induce a potential customer to make an offer and then attempt to add costly add-ons to the transaction prior to the signing of the contract An arrangement in which a lessee receives the use of an item, such as a car or a house, in exchange for scheduled payments for a fixed period This is the total price of the leased vehicle, including its negotiated cost and any applicable fees and taxes I. Gross capitalized cost Gap insurance 0 0 D
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