Question

1. janine is considering what auto costs she is going to have after buying a new car. she has budgeted enough money for the monthly auto loan payment, gas, and auto insurance. has janine factored in all of the costs associated with car ownership?

yes, these are the three costs she should expect to pay once she is a car owner

no, she does not need to include the cost of auto insurance as it is included in her auto loan payment.

no, she needs to factor in other costs such as maintenance, emergency repairs, etc.

no, she does not need to include the cost of gas as it is covered under her auto insurance policy

Explanation:

To determine if Janine has factored in all car ownership costs, we analyze each option:

• The first option is incorrect because car ownership has more costs than just loan, gas, and insurance.
• The second option is wrong as auto insurance is a separate cost from the auto loan payment.
• The third option is correct because car ownership also involves maintenance, emergency repairs, registration fees, etc., which Janine hasn't considered yet.
• The fourth option is incorrect since gas is not covered by auto insurance and is a separate expense for the car owner.

Answer:

C. No, she needs to factor in other costs such as maintenance, emergency repairs, etc.