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Worksheetsjoes buying a car review
Total questions: 24
Worksheet time: 41mins
annual percentage rate (apr)
the interest rate on a loan represented as a percentage
the reduction in value of a car over time usually based on the wear and tear caused by driving the car
the brand or company that made a car, such as Ford
depreciation
the measure of how far a car can travel using exactly one gallon of gas
the specific vehicle name within a make, such as a Ford Mustang
the reduction in value of a car over time usually based on the wear and tear caused by driving the car
the amount that a car manufacturer advises the dealers to charge for the car (starting point for negotiations)
down payment
the price of a car that includes feeds and other charges added to the price of the car (often not included in the advertised price)
sum of money you pay to the bank upfront when getting a car loan
the amount that a car manufacturer advises the dealers to charge for the car (starting point for negotiations)
additional coverage that you can buy to pay for repairs or replacements needed beyond the original warranty period
make
the specific vehicle name within a make, such as a Ford Mustang
the reduction in value of a car over time usually based on the wear and tear caused by driving the car
the measure of how far a car can travel using exactly one gallon of gas
the brand or company that made a car, such as Ford
model
the brand or company that made a car, such as Ford
the specific vehicle name within a make, such as a Ford Mustang
the amount that a car manufacturer advises the dealers to charge for the car (starting point for negotiations)
the company that built the vehicle, such as General Motors
manufacturer
the company that built the vehicle, such as General Motors
the specific vehicle name within a make, such as a Ford Mustang
the measure of how far a car can travel using exactly one gallon of gas
miles per gallon (MPG)
the measure of how far a car can travel using exactly one gallon of gas
the amount that a car manufacturer advises the dealers to charge for the car (starting point for negotiations)
principal
amount of your monthly payment that goes towards paying off your loan BEFORE interest
the price of a car that includes feeds and other charges added to the price of the car (often not included in the advertised price)
Manufacturer's Suggest Retail Price (MSRP)
the amount that a car manufacturer advises the dealers to charge for the car (starting point for negotiations)
the assurance that your car will be protected from any major issues in case something happens before a certain number of years/miles you drive it (the manufacturer will cover the costs of repairs during this period)
additional coverage that you can buy to pay for repairs or replacements needed beyond the original warranty period
principal
the company that built the vehicle, such as General Motors
the amount that a car manufacturer advises the dealers to charge for the car (starting point for negotiations)
amount of your monthly payment that goes towards paying off your loan BEFORE interest
True Market Value
the assurance that your car will be protected from any major issues in case something happens before a certain number of years/miles you drive it (the manufacturer will cover the costs of repairs during this period)
the amount that a car manufacturer advises the dealers to charge for the car (starting point for negotiations)
additional coverage that you can buy to pay for repairs or replacements needed beyond the original warranty period
the price of a car that includes feeds and other charges added to the price of the car (often not included in the advertised price)
warranty
the assurance that your car will be protected from any major issues in case something happens before a certain number of years/miles you drive it (the manufacturer will cover the costs of repairs during this period)
amount of your monthly payment that goes towards paying off your loan BEFORE interest
the company that built the vehicle, such as General Motors
the brand or company that made a car, such as Ford
extended warranty
amount of your monthly payment that goes towards paying off your loan BEFORE interest
additional coverage that you can buy to pay for repairs or replacements needed beyond the original warranty period
the assurance that your car will be protected from any major issues in case something happens before a certain number of years/miles you drive it (the manufacturer will cover the costs of repairs during this period)
common warranty plan
3 year 36000
5 year 36000
4 year 36000
10 year 36000
true cost to own a car is calculated over--- years
3 year
4 year
7 year
5 year
registration needs to be completed-----
weekly
yearly
monthly
daily
The cost of a car is $25,000 and there is a 15% down payment. What is the down payment amount?
$375,000
$2,500
$3,750
The cost of a car is $25,000 and the down payment is $3,750. What is the total amount to be financed?
$28,750
$21,250
$20,000
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
manufacturer's suggested retail price. price that car builders say the car should be sold at.
downpayment
MSRP
MPG
total cost of ownership (TCO)
When buying a used car, it is wise to take the car to a trusted mechanic for a check prior to purchase.
True
False
Which is NOT an expense of owning a car?
Repairs & maintenance
Gasoline
License & registration fees
Utilities
Financing a vehicle has advantages & disadvantages. Which is a disadvantage?
You need a small amount of money upfront compared to buying the car
You pay interest and fees on borrowed money
Your credit score is not taken into consideration
You have more flexibility to pay the car off over time
