Approximate price the dealership pays to the manufacturer for the vehicle
What is the invoice price
100
-car
-truck
-motorcycle
- van
-Must be purchased in Massachusetts from a new car dealer
-Vehicle must be for personal use
What is vehicles covered by Lemon Law
100
Consumer protection from new vehicles with serious defects
What is Massachusetts Lemon Law
100
True/False: One of the first steps in the vehicle buying process is to discuss the amount of your monthly payments with the salesperson.
What is False
200
Book Value
What is the estimated market or trade-in worth of a used vehicle as published in a guide by businesses such as Kelley Blue Book, Edmunds or NADA?
200
Lemon Laws
What is state laws that protect buyers when vehicles have serious defects
200
True/False: If you have a lemon, you can get reimbursed (paid back) for lawyer's fees and lost wages
What is false
200
Final Repair Attempt
What you must give the manufacturer not the dealer?
200
True/False: The largest cost factor when owning a new vehicle is depreciation.
What is True
300
VIN and what is it used for?
What is
-vehicle Identification Number and
-a unique code used by the automobile industry to identify and track each vehicle manufactured
300
Recall
What is when a safety defect is discovered, the manufacturer is required to remedy the problem at no charge to the owner
300
1 year or 15,000 miles from original delivery date (whichever comes first)
What is term of protection
300
Reasonable attempt
What is when the repair is attempted 3 or more times for the same substantial defect and if it happens within the term of protection
300
True/False: When buying a vehicle, begin negotiations with the invoice price
What is True
400
Factory Warranty
What is the promise by the vehicle manufacturer to repair or replace defective components for a specific period of time
400
Service contract that provides for no cost or low cost vehicle repair, after the factory or dealer warranty expires
What is extended warranty
400
7 business days
What is how long the manufacturer has to complete the final repair attempt
400
A refund or replacement vehicle
What is your 'settlement' after having your car repaired a reasonable number of times and it still not being fixed?
400
True/False: Purchasing a used car can save the consumer an average of 25% in overall ownership and operating costs.
What is False, savings is closer to 50%
500
National Highway Traffic Safety Administration, the federal agency dedicated to achieving the highest standards of excellence in motor vehicle and highway safety
What is NHTSA and what does it do?
500
Monroney sticker
What is A window sticker, required by law to be placed on every new vehicle, includes information such as MSRP and fuel economy
500
5 types of vehicles not covered by Massachusetts Lemon Law
What are
-Auto homes
-Off-road vehicles
-Business vehicles
-With damage caused by owner, accident, vandalism, or unauthorized repair
-Vehicles leased before July 1, 1997
500
A lemon
What is new or leased motor vehicle that has
-a defect that substantially impairs the use, market value, or safety of the vehicle, and
-not been fixed/repaired after a reasonable number of attempts.