Auto Loans

Auto Loans

9th Grade

12 Qs

quiz-placeholder

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Auto Loans

Auto Loans

Assessment

Quiz

Other

9th Grade

Medium

Created by

JK CoolKid

Used 247+ times

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The maximum amount of time over which an individual agrees to repay an auto loan. Typically ranges from 36 to 84 months.

Loan

Loan terms

Down payment

Annual percentage rate (APR)

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The original amount of money that is borrowed. The amount decreases when you make a payment.

Annual percentage rate (APR)

Loan amount or principal

Down payment

Loan terms

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The expected decline in value over time of an item.

Lender

Loan amount or principal

Depreciation

Credit history

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A fixed amount of money, percentage of the selling price or item of value that is traded in to reduce the cost of purchasing a vehicle.

Credit history

Loan terms

Down payment

Annual percentage rate (APR)

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A formal and extensive record of how good an individual is at maintaining their credit and paying their current and past debts in a timely manner.

Credit score

Loan terms

Lender

Credit history

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Made by a bank or other lender to an individual so that person can purchase a new or used vehicle, using the vehicle as collateral for the loan.

Auto loan

Loan terms

Lender

Annual percentage rate (APR)

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The fee charged for the use of money.

Auto loan

Loan terms

Down payment

Annual percentage rate (APR)

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