Buying a Vehicle Test Reattempt Version

Front

Financing your car means:

Back

Paying off the car in monthly payments

Front

When financing a car, the contract will usually include: Interest rate, monthly payments, and years outlined, Condition of the car, Miles per gallon, oil preferences, maintenance schedules

Back

Interest rate, monthly payments, and years outlined

Front

Many personal finance experts recommend keeping your car budget costs to no more than __% of your take-home pay after taxes. Your budget will include any car payment, auto insurance, gas, maintenance, and repairs.

Back

10%

Front

Do many car buyers shop for vehicles beyond their means and prefer a low down payment, leading to misjudgment of their monthly payment capabilities?

Back

True

Front

Trading-in your car gets you more money than selling the car on your own.

Back

False

Front

MSRP (____ ___ ___ ____)

Back

Manufacturer's Suggested Retail Price

Front

The type of vehicle you choose and the history of your driving record can profoundly affect the cost of insurance

Back

True

Front

This type of car is the most expensive and depreciates in value once driven off of the lot

Back

New car

Front

The cost of a car is $25,000 and there is a 15% down payment. What is the down payment amount?

Back

$3,750

Front

The cost of a car is $25,000 and the down payment is $3,750. What is the total amount to be financed?

Back

$21,250