Buying a Car - True & False

True

Before you have decided on the vehicle you want to purchase, go to the bank or credit union to discuss financing.

True

One should investigate insurance costs with at least three different insurance companies before making a final decision to purchase a vehicle.

True

Purchasing a used car can save the consumer an average of 50% in overall ownership and operating costs.

True

The Federal 3-Day Cooling Off Rule doesn't apply to vehicles.

True

The consumer does not buy cars every day, but they do have the most important negotiating "tool."

False

The invoice price tells exactly what the dealer paid for the vehicle.

True

The largest cost factor when owning a new vehicle is depreciation.

False

When a trade-in is part of a vehicle purchase, the dealer will offer the best price for the trade-in because they want to make a sale.

False

When buying a vehicle, begin negotiations with the MSRP price.

False

When buying a vehicle, one of the most important parts of getting a "good deal" is making sure the monthly payments are affordable.

True

You can/should insure a vehicle/four-wheeler BEFORE you bring it home so it's covered while you bring it from the seller to you.