Car Buying
Quiz
•
Social Studies
•
11th Grade
•
Easy
Jamie Herberger
Used 29+ times
FREE Resource
17 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Longer finance periods are ideal for the consumer because financing for longer periods of time saves money in the end.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Ideally, consumers should spend no more than 10% of their monthly income on their monthly car payment.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Consumers with low credit scores are typically not going to find financing for a new or used car purchase.
True
False
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
By adding a cosigner, many consumers might be able to qualify for a lower interest rate on their new or used car purchase.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Every single hard inquiry with a credit reporting agency drops one's score; therefore, you should only pursue one finance option.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Through it may offer peace of mind, getting "pre-approved" for loans prior to shopping has no real economic value.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Dealer financing is risky and provides no real economic advantages over borrowing from a traditional financial institution.
True
False
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