Car Market and Economic Trends Quiz

What is the average loan to value in the auto market?

• 125%

• 140%

• 150%

• 110%

What is the average amount that an American is underwater on their car from the purchase price?

• $8,000

• $6,000

• $4,000

• $2,000

What is the average monthly car insurance cost according to bankrate.com?

• $200

• $150

• $250

• $100

What is the historical interest rate on a car loan a couple of years ago?

• 23%

• 10%

• 15%

• 20%

What is the expected trend for new car prices in 2024?

• Continue to fall

• Fluctuate

• Stabilize

• Continue to rise

What is the impact of the EV tax credit moving to point of sale?

• The credit amount has been reduced

• Customers can take the credit right when they buy the car

• Customers can no longer claim the credit

• The credit is only applicable to certain EV models

What is the reason for the decrease in electric vehicle prices in the UK?

• Increased demand

• New EV models

• Taxation on EVs

• Decreased production

What is the impact of the rise in unemployment on the housing market?

• Stable housing prices

• Increased demand for homes

• More people defaulting on mortgages

• Decreased property taxes

What is the expected impact of the FED cutting interest rates in 2024?

• Lower unemployment rates

• Stable economy

• Decreased car prices

• Increased car sales

What is the trend for dealership Finance managers in the next few months?

• More opportunities for buyers

• Fewer opportunities for buyers

• Stable opportunities for buyers

• No impact on buyers