Question
Question 1 Comparison shopping for a new vehicle includes A. deciding between needs and wants. B. fitting the purchase into your budget. C. determining the
Question 1
Comparison shopping for a new vehicle includes
A. | deciding between needs and wants. | |
B. | fitting the purchase into your budget. | |
C. | determining the value of your trade-in. | |
D. | obtaining a loan preapproval. |
Question 2
Same as cash offers often carry the risk that
A. | you will lose a tax deduction for the interest owed. | |
B. | you will be insolvent. | |
C. | all prior interest will be owed if full payment is not made within the agreed time period. | |
D. | your interest rate will be increased.. |
Question 3
Of these four items, which is most aptly described as a need?
A. | A condominium | |
B. | A new house | |
C. | Home ownership | |
D. | Shelter |
Question 4
When negotiating to purchase a vehicle, besides the price, what other variables should be considered?
A. | Trade-in value | |
B. | All of these | |
C. | Interest rate | |
D. | Prices of options |
Question 5
Buying without fully considering priorities and alternatives is called
A. | impulse buying. | |
B. | planned buying. | |
C. | money saving. | |
D. | unplanned purchasing. |
Question 6
In addition to the price of the auto, ____ may be a price variable in an auto negotiation.
A. | financing terms | |
B. | service contract costs | |
C. | all of these | |
D. | trade-in value |
Question 7
Tom has a four-year closed-end lease on his Land Cruiser. His contract stipulates a $0.42 per mile excess mileage charge in excess of 48,000 miles. If he actually drove the vehicle 60,000 miles during the four years, he would be charged an extra ____.
A. | $5,040 | |
B. | $5,670 | |
C. | $0 | |
D. | $2,016 |
Question 8
A form of alternative dispute resolution that is legally binding at least one party is
A. | mediation. | |
B. | civil court. | |
C. | arbitration. | |
D. | small claims court. |
Question 9
A form of dispute resolution that is not legally binding on either party is
A. | civil court. | |
B. | mediation. | |
C. | arbitration. | |
D. | small claims court. |
Question 10
Service contracts are also called ____ warranties.
A. | implied | |
B. | full | |
C. | extended | |
D. | limited |
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