Buying a Car Review

Front

Which of the following are things to look for when shopping for a new or used car? Options: the mileage, damage to the exterior of the car, the price of the car, all of these

Back

all of these

Front

What is depreciation?

Back

Cars lose value once you drive them.

Front

The sticker price of a new car is

Back

only a suggested price.

Front

The loss of an asset's value over time is called

Back

depreciation

Front

The cost of owning a car includes: insurance, repairs, gas, all of these

Back

all of these

Front

A manufacturer's warranty on a car covers

Back

specific repairs for a specific amount of time or number of miles

Front

When purchasing a vehicle, the most important things to compare are: colors & cost, safety & color, color, safety & costs

Back

safety & costs

Front

All of the following are reputable places where you can get a car loan except: a bank, a credit union, from your parents.

Back

a loan shark

Front

The _______________ is the cash you give to the dealer to lower the principal amount of the car.

Back

down payment

Front

If you are buying a car that costs $25,000 and your bank requires a down payment equal to 5% of the car cost, how much do you have to put down?

Back

$1,250