Personal Finance Car Buying Questions

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

Get a co-buyer with good credit, such as a parent

Which of the following is NOT a question the presentation recommends asking yourself when trying to identify transportation needs?

How important is appearance?

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

Pickup Truck

Which of the following is NOT one of the extra costs the segment mentions as being a typical legitimate fee?

Vehicle prep fee

Which type of vehicle is sometimes also referred to as a weekender?

Wagon

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

Coupe

Invoice price is sometimes also referred to as which of the following?

Dealer cost

The segment recommends trying to switch the focus to which of the following?

Invoice price

Which of the following is NOT a possible consequence of buying a car which is beyond your means as discussed in the segment?

Temporary incarceration

Which of the following websites is NOT a source recommeded in the segment?

www.autonation.com

Which of the following websites is the National Automobile Dealers Association website?

www.nadaguides.com

According to the segment, your total automotive expenses should NOT exceed what percentage of your take-home pay?

20 Percent

Len Caron said if you decide to get a used car, you should make sure it is a dependable model by checking which of the following?

Consumer Reports

Which of the following is NOT one of the organizations the segment recommended when looking for information and advice about consumer rights?

Consumer census bureau

Which of the following is the msot well-known vehicle valuation company according to the segment?

Kelly Blue Book

Which of the following is NOT an advantage of buying from a private seller as opposed to a dealership as discussed in the segment?

Less hassle

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

Liability

Which of the following is NOT recommended when test-driving a vehicle?

Listen to the radio

How does the segment recommend checking for possible fluid leaks when examining a car?

Look under the car

According to the segment, a salesperson will likely start the discussion of price by focusing on which of the following?

MSRP

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

Negotiate purchase

Which of the following is the first step in the car-buying process as discussed in the segment?

Prioritize needs

Raegan Sisemore said when you lease a car, you are basically paying for which of the following?

Rent plus depreciation

Extended warranties are also known as which of the following?

Service contracts

How many steps are in the car-buying process as discussed in the segment?

Six