Question

In the past you have purchased cars that you have driven for over 10 years or more. The mileage on these vehicles usually exceeded 100,000 and therefore you just give them to one of your teenage nieces/nephews or your grandchildren. Based on this history, your primary financial selection criteria will be

A) resale value.
B) financing rate.
C) repair expense.
D) personal preference.

Answer 1

The correct answer is A.The primary financial selection criterion should be repair expense, as the individual's history suggest a preference for holding onto cars for their useful life rather .

Step-by-step explanation:

The primary financial selection criteria for a person who tends to drive vehicles until they've accumulated over 100,000 miles and gives them away to family members should focus on factors.

Since the cars are usually kept for long periods, and the end-user isn't seeking to sell for profit, factors such as repair expense and reliability are likely to be more significant.

Considering this usage pattern, repair expenses will likely incur regularly beyond the warranty period, thus having a vehicle with a reputation for long-term reliability .

Affordable maintenance should be prioritized over other criteria like financing rate, resale value, and even personal preference to some extent, unless personal preference significantly impacts long-term satisfaction with the vehicle.