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A car is a variable expense having the following properties:
Car payment ( fixed Expense) Maintenance and usage costs (variable) So in total it is a variable expense. A car payment is considered a liability.
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∙ 9y ago
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Which of these is an example of a fixed expense?
Rent food car payment electric bill
How do you record in your accounting system the transaction of buying a car on credit?
Debit full price of car to Vehicles (fixed asset account) Debit Other Taxes expense for the registration fees Credit Loan Payable (liability account) for the total amount borrowed (not the total of the loan payments, just the principal) Credit Cash for any down payment
Does liability insurance get you money for a car if your car is totaled?
The other parties liability should if it was their fault. Your liability should cover the vehicle you damaged.
Where can one purchase car insurance liability?
You can purchase car liability insurance from the same company you get your regular car insurance from. If you are a new car insurance customer, ask your agent to add liability insurance to your plan.
What are two types of car liability insurance?
Bodily injury liability and property damage liability.
What can you do if you cant make your car payment and any future payments?
what can you do when you cant make a car payment what can you do when you cant make a car payment
Do you need a car to get liability insurance?
Automobile Liability insurance, YES. Liability insurance, NO. There are many kinds of liability insurance.
Do you have to own a car to have liability insurance?
It sorta makes sense that you would own a car. If you do not own a car why would you want liability insurance?
How far do you have to be behind on a car payment before your car is repo?
2 payment
Where can I calculate a car payment online?
You can visit pnc.com for your help on calculate a car payment. I hope this helps you find the right car and the right car payment for you. They have the tools to help you.
What is the average car payment?
the average car payment is about 200$ which this stayment is not made based on the car types.
Does the car insurance pay the debt when the owner dies?
Normal car insurance Liability, Collision, & Comprehensive will not pay off the loan. You would need to get the proper insurance for this purpose. Either life insurance or insurance for the purpose of loan payment.
