Question

Frankie’s weekly budget includes a long-term goal of purchasing a car. He is saving $15 a week toward that goal. He is considering saving up his money to purchase his grandmother’s older car. Frankie knows his grandmother has maintained the car and it is in good condition. She is also giving him a greatly discounted price of $800. What should Frankie consider before buying the car? Check all that apply. what he will be giving up if he spends $800 on the car the cost to maintain (oil, tires, gas, brakes) and insure the car how many of his friends have cars his short- and long-term financial goals if an alternate mode of transportation, such as a bicycle or the bus, is sufficient for his needs

Answer 1

The decision of purchasing a car must be taken by Frankie after considering the following points:

1. what he will be giving up if he spends $800 on the car

2. The cost to maintain and ensure the car

3. his short- and long-term financial goals

4. if an alternate mode of transportation, such as a bicycle or the bus, is sufficient for his needs.

What is the point he must know about purchasing a car?

Frankie is an individual person when he wants to purchase a car that is his long-term goal.

he must consider various things before making such a big expenditure.

The points to be noted before purchasing a car are:

what is the cost for Frankie for spending $800?

What will be the maintenance and insurance cost?

He must check his other short and long-term goals before purchasing a car.

Is the expense of the car a necessity for Frankie or he can use public transport.

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