Miscellenous
From what primary group do we learn our spending habits?
Parents or family
I’m tall when I’m young, and I’m short when I’m old. What am I?
A Candle
What are the 3 factors that determine the monthly payment amount?
Loan Amount (Principal), Interest Rate and Term
What 2 people are in control of the negotiation process?
Buyer and Seller
A cost that should not have any impact on your decision to spend money.
Sunk cost
What has 4 wheels and "flies"?
A garbage truck
What does MSRP stand for?
Manufacturer's Suggested Retail Price
Which of these 2 financing companies would typically have a lower interest rate? Bank or financing company
A bank.
What is the most important thing to do to ensure a successful negotiation?
Planning or Preparation
What is the #1 factor that determines if we spend money and what we spend money on?
Disposable Income
A man was driving a black truck. His lights were not on. The moon was not out. A lady was crossing the street. How did the man see her?
It was a bright, sunny day.
The extra money you pay besides the principal of a loan is called?
Interest
Will the monthly payment increase or decrease if you extend the term of the loan from 3 years to 5 years?
Decrease
What should you do if the seller refuses to meet your maximum offer?
Walk
A person's judgement of what is important in life.
Values
What goes up but never comes down?
Your age
When determining which car to purchase, you should look at these 3 financial factors.
Vehicle Cost (Price), Monthly Payment and Maintenance costs
You find the car of your dreams. You need to lower the monthly payment. Name 3 things you can do to lower the monthly payment on that car.
Down payment (lower loan amount), lower interest rate or extend the term.
An offer made in response to another offer.
Counteroffer
A vehicle that is sold in its current condition without any warranties.
"Sold as is"
I’m light as a feather, yet the strongest person can’t hold me for six minutes. What am I?
breath
You are looking for a car with low miles, in excellent condition, and need help with financing. Where would the best place to buy a car?
A dealer.
Which term will have a lower interest rate? 3 years or 5 years?
3 years.
After you have made an offer or counter offer, what should you do?
Shut up!