Car Buying Basics Quiz

What is the main focus of the Car Buying Basics video?

• How to repair a car

• The pros and cons of buying new vs. pre-owned cars

• The history of automobiles

• Car racing techniques

Which of the following is a benefit of buying a new car?

• Higher loan interest rates

• No warranty

• Lower maintenance costs

• Higher insurance costs

Why might new cars have lower loan interest rates?

• Automakers offer better rates

• They have higher depreciation

• They are less reliable

• They are more expensive

What is a key advantage of buying a pre-owned car?

• Lower sticker price

• Higher insurance costs

• Higher sticker price

• More warranty issues

How does buying a pre-owned car affect insurance costs?

• Increases insurance costs

• Requires additional insurance

• Has no effect on insurance costs

• Typically lowers insurance costs

What is a potential benefit of pre-owned cars in terms of parts?

• Parts are harder to find

• Parts are more expensive

• Parts can be cheaper and more available

• Parts are only available from the manufacturer

What should you consider when deciding between a new and pre-owned car?

• The color of the car

• What you can actually afford

• The brand of the car

• The number of seats

Why might a pre-owned vehicle be more practical for service members?

• They may sit in storage during deployments

• They require more maintenance

• They are more expensive

• They have higher insurance costs

What is an important factor to remember when making a car buying decision?

• The car's horsepower

• The car's brand

• The monthly payment

• The car's color

What is a recommended resource for help during the car buying process?

• A car mechanic

• An online forum

• A personal financial manager

• A car dealership