Question

you have financed and been making payments on your car for four years. your loan term is near its end. what happens to the car once you make the last payment? choose 1 answer: a you return it to the dealership b you own it c you must sell it

Explanation:

When you finance a car (take a loan to purchase it) and make regular payments over the loan term, the loan is for owning the car. Once the last payment is made, the lien (the lender's claim on the car) is removed, and you gain full ownership of the car. Option A is incorrect as returning to the dealership is for lease agreements, not financed purchases. Option C is incorrect as there's no requirement to sell the car after paying off the loan.

Answer:

B. you own it