When Purchasing a Used Vehicle,it Is a Good Idea to

question 41

Multiple Choice

When purchasing a used vehicle,it is a good idea to

• A) Take out a loan for the entire cost.
• B) Accept the dealer at his word about the condition of the vehicle.
• C) Have a trained and trusted mechanic of your choice check out the vehicle.
• D) All of these are correct.
• E) None of these is correct.

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Definitions:

Operating Costs

Expenses associated with the day-to-day functioning of a business, including costs for rent, utilities, payroll, and raw materials.

Discretionary Income

The portion of a person's income remaining for investment, savings, or expenditures after deducting taxes and essential living costs such as housing and food.

Personal Income

Refers to the total earnings received by individuals, including wages, salaries, bonuses, and income from investments.

Discretionary Income

the portion of an individual's income available for spending after the essentials (like food, shelter, and clothing) have been taken care of.