Car Buying

Car Buying

11th Grade

17 Qs

quiz-placeholder

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Car Buying

Car Buying

Assessment

Quiz

Social Studies

11th Grade

Easy

Created by

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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