Quiz about Buying a Car Vocab

Question 1

What part of the car measures the distance traveled by a vehicle?

Accepted Answer

Odometer

Answer

Speedometer

Answer

Clean Title

Question 2

What officially certifies that a vehicle can legally be driven on public roads; this connects a vehicle to the state and the vehicle owner.

Accepted Answer

Registration

Answer

Clean Title

Answer

Negotiable

Question 3

What type of insurance is the basic insurance that all states require for all drivers; will cover you and the other car if you get in an accident?

Accepted Answer

Liability

Insurance

Answer

Comprehensive Insurance

Question 4

What type of insurance will pay for your repairs in an accident (and the other car you damage?) This insurance is more expensive.

Accepted Answer

Comprehensive Insurance

Answer

Liability Insurance

Question 5

What is the amount you pay every month (or whatever time frame you decide) for your car insurance?

Accepted Answer

Premium

Answer

Deductible

Question 6

What is the amount you pay BEFORE your insurance plan starts to pay? Common amounts are $500, $1,000, $2,500 or $5,000.

Accepted Answer

Deductible

Answer

Premium

Question 7

What is the interest rate on a loan called?

Accepted Answer

APR-Annual Percentage Rate

Answer

APR-Accrued Percent Range

Answer

APR-Annual Primary Rate

Answer

APR-Annuity Preliminary Record

Question 8

Which is the term for the reduction of value in the car over time usually based on the wear and tear caused by driving the car

Accepted Answer

Depreciation

Answer

Principal

Answer

True Market Value

Answer

Warranty

Answer

none of these

Question 9

The money you pay upfront when getting a car loan is called the...

Accepted Answer

down payment

Answer

principal

Answer

interest

Answer

APR

Question 10

This is the company that makes the cars we drive (Ford, Toyota, etc.)

Accepted Answer

manufacturer

Answer

msrp

Answer

model

Answer

Amazon

Question 11

This is the assurance that your car will be protected from any major issues in case something happens before the number of years you own the car or the number of miles you drive it.

Accepted Answer

warranty

Answer

msrp

Answer

depreciation

Answer

true market value

Question 12

When borrowing money from a bank, this is the extra amount you need to pay in addition to the amount you borrowed

Accepted Answer

interest

Answer

APR

Answer

principal

Answer

msrp

Answer

down payment

Question 13

This is the amount that a car manufacturer advises dealers to charge for a vehicle. It's just the starting point in negotiations at a car dealership.

Accepted Answer

MSRP - Manufacturer's Suggested Retail Price

Answer

Loan

Answer

Principal

Answer

Down Payment

Question 14

This is the measure of how far a car can travel using exactly one gallon of gas. This figure helps you to compare cars based on their efficiency

Accepted Answer

MPG - miles per gallon

Answer

APR

Answer

FDIC

Answer

none of these

Question 15

if you have to get a loan to purchase a vehicle it's known as...

Accepted Answer

financing

Answer

proof of insurance

Answer

cash payment

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