Cars Vocab Quiz

The amount of money you pay upfront for a car.

• Monthly Payment
• APR
• Down Payment
• Premium

The manufacturer's initial charge but not the final cost to the dealer. 

• MSPR
• Dealer Sticker Price
• Dealer Cost
• Invoice Price

The steady decline in the resale value of any vehicle that you buy.

• Depreciation
• Cost of the Loan
• Credit Score
• APR

When you owe more on your vehicle than what it is worth.

• Deductible
• Upside-down
• Bait and Switch
• Premium

The score that evaluates your credit-worthiness and determines the rate of interest you are eligible to receive

• Credit Score
• VIN
• Invoice Price
• Dealer Cost

The practice of advertising a car at an unrealistically low price, then switching a customer to a different vehicle at a higher price.

• Factory-to-dealer Holdbacks
• Factory-to-dealer Incentives
• Cost of the Loan
• Bait and Switch

Amount of money you will have to pay back in addition to the money you borrowed.

• Deductible
• Premium
• Budget
• Cost of the Loan

An insurance policy that will pay your loan obligation if you die or are disabled.

• Collision & Comprehensive Insurance
• Credit Life Insurance
• Uninsured or Underinsured Motorist Insurance
• GAP Insurabce

Covers bodily insurance or property damage that YOU cause to another person and/or vehicle.

• Collision & Comprehensive Insurance
• GAP Insurance
• Uninsured or Underinsured Motorist Insurance
• Liability Insurance

If your car is totaled or stolen, the insurance covers the loan value of your car instead of the car's current market value

• Uninsured or Underinsured Motorist Insurance
• Liability Insurance
• GAP Insurance
• Collision & Comprehensive Insurance