Vehicles

The expected decline in value over time of an item.

• Lender

• Loan amount or principal

• Depreciation

• Credit history

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)

When getting a car loan you will want to get the highest or the lowest interest rate?

• lowest
• highest

Brenda's bank offers car financing for 3, 4, or 5 years.  If Brenda chooses 5-year financing, how many monthly payments will she have?

• 60
• 48
• 36
• 12

What would the monthly payment be on a purchase of a $10,000 car at 5.9% for 4 years?

• $239.34
• $234.39
• $212.50
• $250.00

What would happen to a monthly payment if the interest rate increased?

• The payment would go up.
• The payment would go down.
• The payment would remain the same.
• None of the above.

What is the main difference between an auto lease and an auto loan?

• On both auto loan and auto lease the borrower is purchasing a car

• On both auto loan and auto lease the borrower will have to return the car

• On an auto loan the borrower is purchasing the vehicle while on a lease the borrower returns the car at the end of the terms

• On an auto loan the borrower will have to return it while on a lease the borrower is purchasing the vehicle

Joshua drove 90 miles on 15 gallons of gas. Find the unit rate.

• 0.17 mpg
• 135 mpg
• 6 mpg
• 75 mpg

A new vehicle is required by law to have a _____________ on its window.

• tint

• sticker price

• options

• destination charge

Q1. Janet Smith is shopping for a new sport utility vehicle. A portion of the sticker for an SUV is shown below. What is the sticker price?

SUV Base Price $28,150

Optional Equipment Description Anti-Lock Brakes (ABS) $900

Automatic Transmission (ATO) $630

Deluxe CD/Radio $1,420

Destination Charge $699

• 28.150

• 31,799

• 3,649

• 31,169