Buying a car is often perceived to be a difficult and confusing process. If you take the time to learn what you need to know before purchasing a vehicle, the entire process is relatively simple and straightforward. So, how much do you know about buying a car?
What is the most important thing to know about a used car before you make the purchase?
- The history of the car
- The color of the car
- The size of the engine
Because high mileage can decrease the selling price of a used car, some unscrupulous people "roll back" the mileage. What is this illegal practice known as?
- Odometer correction
- Odometer updating
- Odometer fraud
What is considered "reasonable mileage" for a used car?
- 12,000 miles total
- 12,000 miles per month
- 12,000 miles per year
What does MSRP stand for?
- Manufacturer Suggested Rate Plan
- Manufacturer Suggested Retail Price
- Manufacturer Suggested Ranking Place
What is one document that you should never sign when purchasing a used car?
- A vehicle history report
- A loan agreement
- An "As Is" statement
There are two times of the year in which you will get the best price on a car. When is considered to be the best time?
- The last two weeks of December and July to October
- The first two weeks of the year and the end of May
- The entire month of March and the first week of December
What is the sticker price of a vehicle?
- The Manufacturer Suggested Retail Price
- What the dealer would like you to pay
- The price of the window sticker itself
What is a common term for a bad car?
What does APR stand for?
- Annual Percentage Rate
- Average Principle Rate
- Annual Primary Rate
What are two items that you should never give to the dealer?
- Your license or social security number
- Your home address or zip code
- Your insurance information or license plate number