Chapter 6 personal finance

True or False: One of the factors that influences the price of buying a used car is capitalized

False

In _____________, a third party tries to settle a grievance, but the process is non-binding

Mediation

An agreement between a business and a consumer to cover repair costs of a product in return for a fee.

Service contract

Most consumer complaints are resolved at the

original sales location

_______________ warranty is in writing, is created by the seller or manufacturer, and has two forms

Express

Variable vehicle operating costs are:

Parking costs and tolls Repairs Gas Oil

True or False: Lease payments are often less than loan payments

True

________________, a third party tries to settle a grievance and the process is legally binding

arbitration

Dealing with the person who has the ____________ to give you a lower price is a vital factor of negotiations

authority

Only way you can have long-term financial security is to not spend all of your ____________ income.

current

warranty of merchant ability covers a products intended use or other basic understandings that are not in writing

implied warrantyay