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WorksheetsBuying a Car/Loans/Insurance
Total questions: 24
Worksheet time: 1hrs 26mins
Insurance that pays for damage you cause to another person's vehicle
Coverage that pays for damages you cause even if it's to your own vehicle
Insurance coverage that pays for losses that are out of your control (weather related, fire, hitting an animal, etc.)
This type of insurance protects you if you get into an accident and the person who caused it DOESN'T have insurance
APR is...
Annual Percentage Rate
Artificial Petroleum Reserve
Annual Price Reduction
Having a lower APR could mean that your...
monthly car payment is lower
interest paid is higher
car loan will be over a longer period of time
A reduction in the value of an asset over time is called
appreciation
depreciation
inflation
You're likely to save more money in the long run if you...
Buy a used car
Lease a car
Buy a new car
Which is a better financial choice for getting a car loan?
5% down-payment and term of 6 years.
20% down-payment for a term of 4 years
Most people cannot afford to pay for a new car in one day. Instead, people pay the cost over time, but sellers require a certain amount of money the day you buy it. This is called what?
downpayment
VIN
insurance
lease
This is the assurance that your car will be protected from any major issues with the car in case something happens before the number of years you own the car or the number of miles you drive it.
msrp
warranty
depreciation
true market value
When borrowing money from a bank, this is the amount of your monthly car payment that goes towards paying off your loan after interest has been deducted
APR
principal
msrp
down payment
Which type of auto insurance is required by law in most states?
liability
collision
comprehensive
personal Injury
Which of the following is least important when test-driving a vehicle for safety?
driving over bumps, testing the suspension
testing the brakes
listening to the radio
driving on the highway
Which is NOT a factor that affects the price of a car?
condition of car
age of car
your driving history
color of car
What's the name of the law that protects a person that has bought a brand new car that has major manufacturer problems?
Sour Grapes Law
Bad Car Law
Unlucky Law
Lemon Law
The _______ is displayed in printed form on the vehicle; it is the suggested retail price
sales price
sticker price
What's the best way to finance your car?
Paying with Cash
Paying with a credit card
Paying with a debit card
Paying with a loan
The power the engine makes is compared to the power of a horse. the more power, the faster your car can accelerate or the heavier the weight it can carry.
horsepower
trade-in
lemon
MSRP
if you are willing to give your car to the dealer in exchange for a new car, you can often get a better price
lease
VIN
warranty
trade-in
Every car and driver must have this to legally drive in Ohio. Driving without this or getting into an accident without this can be EXTREMELY costly.
insurance
MSRP
lease
downpayment
If you own more money than you car is worth (because of a bad choice of interest rate or term), it is called...
under warranty
being uninformed
over the top
being upside down
