Car Loan Voc Quiz

What does APR stand for in car loans?

• Annual Payment Rate

• Annual Percentage Rate

• Annual Principal Rate

• Annual Price Rate

Fill in the blank: The reduction in value of a car over time due to wear and tear is called ________.

• Depreciation

• Appreciation

• Inflation

• Deflation

Which of the following is the money you pay upfront when getting a car loan?

• Interest

• Down Payment

• Principal

• Warranty

Fill in the blank: The brand or company that made the car is known as the ________.

• A) Model

• B) Make

• C) Manufacturer

• D) Type

What is the term for the company that built the vehicle?

• Model

• Make

• Manufacturer

• Dealer

Fill in the blank: Miles Per Gallon is a measure of how far a car can travel using exactly one ________.

• Gallon of oil

• Gallon of gas

• Liter of gas

• Liter of oil

Which term refers to a specific vehicle name within a make?

• Model

• Make

• Manufacturer

• Type

Fill in the blank: MSRP stands for Manufacturer’s Suggested ________ Price.

• Retail

• Rental

• Repair

• Replacement

What is the principal in a car loan?

• The interest rate

• The monthly car payment after interest

• The total loan amount

• The down payment.

Fill in the blank: The price of a car that includes fees and other charges but is not in the advertised price is called ________.

• True Market Value

• MSRP

• Principal

• Warranty