Buying a Car

The total cost that is required for you to be able to drive the car off the lot. Sometimes called Amount Due at Signing.

• market value

• exit price

• drive off

• MSRP

A window sticker, required by law to be placed on every new vehicle, includes information such as MSRP and fuel economy

• Monroney Sticker

• Information Sticker

• Dealership Sticker

• Powers Sticker

covers the difference between what you owe on a car and what the insurance company says it is worth

• your parents

• lease insurance

• auto insurance

• gap insurance

These are usually cash-back rebate offers or low loan interest rates from the automaker straight to the consumer.

• Buyer Incentives

• Factory Incentives

• Purchase Incentives

• Sales incentives

a number assigned to a person that indicates to lenders their capacity to repay a loan.

• credit history

• credit application

• credit profile

• credit score

Another name for the Title of a car

• ownership receipt

• proof of purchase

• ownership slip

• pink slip

the amount the automaker charges the dealership for new vehicles at the time the dealer buys them; it does not reflect some discounts that the dealer gets

• manufacture costs

• dealer cost disclosure

• actual price invoice

• dealer invoice price

What is the primary purpose of a car loan?

• To provide funds for purchasing a car

• To insure the car against damages

• To pay for car maintenance

• To cover fuel expenses

Which of the following is a common factor to consider when buying a car?

• The color of the car

• The car's fuel efficiency

• The brand of the car's tires

• The car's radio system

What is the term for the initial payment made when purchasing a car on finance?

• Installment

• Down payment

• Interest

• Premium