New Cars
Used Cars
Financing a Car
Vocabulary
Insurance
100
This is the #1 advantage of buying a new car.
What is RELIABILITY
100
This is the #1 advantage of buying a used car.
What is YOU DON'T PAY for DEPRECIATION.
100
Adding this doesn't really extend anything; it just adds extra money to your total payment.
What is an Extended Warranty?
100
This warranty includes all minor repairs on the entire car, but not major engine work.
What is "Bumper to Bumper Warranty"?
100
20/40/15
What is the minimum amount of liability insurance need in the state of Illinois?
200
The price given for a specific package includes is called this.
What is Standard?
200
These Two websites are where you can find reliable information on used and new cars.
What is Kelly Blue Book and Edmunds.com?
200
Instead of buying a car, a consumer may choose to do this.
What is Lease?
200
The amount of money you put down when you buy a new/used car from a dealership.
What is a Down Payment?
200
This pays for damage you caused to anther person's property.
What is Property Damage Liability Coverage?
300
This happens to the value of your new car after you drive it off the lot.
What is Depreciates?
300
This is when you bring your current car in to help refinance for a new or used car.
What is a TRADE-IN?
300
You should never pay this price when negotiating a deal.
What is MSRP? Manufacturer's Suggested Retail Price.
300
This happens to your payment plan when your credit is less than excellent.
What is Your Interest Rate increases?
300
This pays for damage to your car caused by colliding with another car or object.
What is Collision Coverage?
400
The type of car one will purchase is called what? (ex. coupe, mini-van, etc).
What is Class?
400
This law is in place to keep consumers safe from buying a clunker.
What is the Lemon Law?
400
3% of the car's Invoice Price
What is a fair price to pay for both parties.
400
This is the amount you pay before the insurance company pays out any money.
What is a deductible?
400
Your driving record, your credit score and your gender/age affect what?
What is your premium?
500
This is what the car dealership paid to get the car on its lot.
What is Invoice Price?
500
Not paying for the price the seller has asked is called what?
What is Negotiating?
500
Compared to a three-year loan, this is the central disadvantage of a five-year loan.
What is Paying More Interest in the long run.
500
This is how much you pay for your insurance (monthly, bimonthly, etc).
What is a Premium?
500
Increasing your deductible does what to your insurance premiums?
What is lower your payments?
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