Buying a Car

• The salesmen will ask what payment you are looking for. What will/would you say? 

• I can afford $350/month

• It doesn't matter what I can afford. What is your best price for the vehicle?

What is a down payment?

• Money that you put down

• The first monthly payment

Financing is...

• Talking to a bank and getting a loan

• The full price of the vehicle

Finance rates are usually...

• Above 30%

• Above 20%

• Above 10%

• Below 10%

Cuyahoga County Tax is...

• 2%

• 4%

• 6%

• 8%

Most people pay for a vehicle in full and do not need financing...

• True

• False

A 36 month loan will usually cost you less than a 60 month loan

• True

• False

You should buy the vehicle from the first salesman you go see

• True

• False

Putting a down payment down will raise the price of your vehicle

• True

• False

You can get a loan at all of the following places/people EXCEPT from...

• Online Banks

• Credit Unions

• Banks you can visit in a building (These are called brick and mortor banks)

• A car dealership

• Mr. Celaschi