Question

For questions 1-10, fill in the blank with the letter or term that best matches the description.

Answer 1

1.  A long-term rental - d. lease. As far as I remember a lease is a contract which defines the terms under which one one side agrees to rent property owned by another another side.

2. A guarantee which covers the entire car, with few (if any) exceptions. - h. Bumper–to–bumper warranty. When you buy new car it is the most comprehensive warranty available for you. It's also called wrap-around warranty.

3. The amount or percentage by which something decreases in value over time - e. Depreciation. It's true definition of depreciation like it's written in books.

4. The value of a piece of property, over and above any mortgage or other liabilities relating to it. Ownership right in property - g. Equity. Home equity is the part of your property value that you really own.  

5. The payment made to obtain insurance - i. Insurance premiums. The amount of insurance premiums is defined by insurance contract. Usually it's monthly or yearly payment.

6. Able to be trusted with financial responsibility; high likelihood of paying back debt - f. Reliability. It's 100% correct definition of the term "reliability" like it's written in books. 

7. The retail value of something; the price that something is advertised as costing - j. Sticker price. As the previous one, it's truly correct definition of sticker price. It's a retail price of something.

8. The cost of something when bought directly from the manufacturer - b. Wholesale value. It's the price which DEALER would pay to manufacturer. It's much cheaper than sticker price.

9.  Wholesale value minus depreciation, plus taxes, registration and licensing fees - a. Used car cost. This a correct explanation of used car cost. There are also could be an insurance.

10. Online resource for car pricing - c. Kelley Blue Book. Just search the Internet and you'll find much more resources for car pricing.