car buying experience

How many steps are in the car-buying process?

• 7

• 6

• 5

• 4

Which of the following is the first step in the car-buying process

• determine budget

• research options

• prioritize needs

• located preferred vehicles

Which of the following is the last step in the car-buying process?

• determine budget

• negotiate purchase

• examine vehicle

• locate preferred vehicle

Which type of vehicle is a smaller version of a sedan?

• wagon

• van

• suv

• coupe

Which type of vehicle is one of the most suitable vehicles for hauling, towing and off-roading?

• wagon

• van

• pickup truck

• sedan

Your total automotive expenses should NOT exceed what percentage of your net pay?

• 10%

• 20%

• 30%

• 40%

Which type of auto insurance is required by law in most states?

• liability

• collision

• comprehensive

• personal Injury

Sylvia is a first-time car buyer without an established credit history, so she is going to be charged a high interest rate. What could she possibly do to get a lower interest rate?

• agree to a lease term of more than five years

• take a financial literacy class at a local college

• Get a co-signer with good credit, such as a parent

• open at least three other credit accounts at the same time

When you lease a car, you are basically paying for which of the following?

• value plus interest

• value plus endorsement

• rent plus depreciation

• rent plus down payment

What job might it be a good idea to consider leasing a vehicle instead of buying?

• Real Estate Agent

• Lawyer

• Consultant

• All of the Above