10.1
an individual or company whose business is selling cars
Automobile dealer
warranties that pick up where the manufacturer’s warranty leaves off
Extended warranties
the asset depreciates the same amount each year it is used
Straight-line
If you purchase a car from an automobile dealer, the car
Sticker Price
a promise by the car manufacturer to cover specified repairs to the car for a specific period of time
Manufacturer’s warranty
covers damage and bodily injury in cases where a driver without insurance is at fault
Uninsured motorist coverage
a set price by the manufacturer
Manufacturer’s suggested retail price (MSRP)
insurance to protect your vehicle and to protect you in accidents involving your vehicle
Automobile insurance
protects your car fro a wide range of other hazards, such as theft, storm and hail damage, vandalism, and broken windows
Comprehensive coverage
Tax, title, and license (TT & L)
fees that are paid after buying the car
pays for bodily injury or property damage that you or your automobile cause
Liability coverage
comprehensive coverage is also called
Full coverage
Depreciations
when an asset loses value, the loss of value
Collision coverage
insurance that covers damage to your own car
Totaled
it would cost more to fix it than the car is worth