Buying a Car
Answer each question in sentence form based on the information you have read in the Personal Finance section of mrspfceclasses@weebly.com. Share your document with Mrs. Papazoglou on the Google Drive.
1. What should your attitude be when you go to negotiate buying a car?
2. Why should you say you are paying cash while negotiating price?
3. Why do salespeople like to prolong negotiations?
4. Why should you always ask to see the invoice?
5. When is the best time of the month to buy a car?
6. What is a no haggle dealer?
7. What is the invoice price?
8. What is MSRP?
9. What are Dealer incentives?
10. What is a Holdback?
11. What are Destination Charges?
12. How much are Wisconsin’s state licensing and registration fees? (you will need to check WI DMV website)
13. What are extended warrantees
14. Who pays the dealer prep fees?
15. Is credit insurance necessary?
Financing
1. What are five ways to finance a car?
2.What are some advantages of dealer financing?
Disadvantage?
3.What are the advantages of a bank loan?
Disadvantage?
4.Why can credit unions offer lower interest rates?
5.What makes using a home equity loan scary?
6. What are the advantages and disadvantages of using the internet for financing a car?
7. What is a “trade-in”?
8. What does negative equity mean?
9. How can you avoid getting into a negative equity situation?
1.
2.
3.
4.
10. What is depreciation?
11. Why is buying a used car a good way to avoid negative equity?
Answer each question in sentence form based on the information you have read in the Personal Finance section of mrspfceclasses@weebly.com. Share your document with Mrs. Papazoglou on the Google Drive.
1. What should your attitude be when you go to negotiate buying a car?
2. Why should you say you are paying cash while negotiating price?
3. Why do salespeople like to prolong negotiations?
4. Why should you always ask to see the invoice?
5. When is the best time of the month to buy a car?
6. What is a no haggle dealer?
7. What is the invoice price?
8. What is MSRP?
9. What are Dealer incentives?
10. What is a Holdback?
11. What are Destination Charges?
12. How much are Wisconsin’s state licensing and registration fees? (you will need to check WI DMV website)
13. What are extended warrantees
14. Who pays the dealer prep fees?
15. Is credit insurance necessary?
Financing
1. What are five ways to finance a car?
2.What are some advantages of dealer financing?
Disadvantage?
3.What are the advantages of a bank loan?
Disadvantage?
4.Why can credit unions offer lower interest rates?
5.What makes using a home equity loan scary?
6. What are the advantages and disadvantages of using the internet for financing a car?
7. What is a “trade-in”?
8. What does negative equity mean?
9. How can you avoid getting into a negative equity situation?
1.
2.
3.
4.
10. What is depreciation?
11. Why is buying a used car a good way to avoid negative equity?
Car Insurance Questions
Car Insurance
1. What are the two basic types of liability insurance?
Define them.
2. What is the difference between uninsured and underinsured motorists?
3. What do “medical payments” pay with regards to car insurance?
4. What does the term collision mean?
5. What does the term “claims adjuster” mean? What do they do?
6. How much would you receive if your car was considered “totaled”?
7. What does comprehensive insurance cover?
8. What criteria do insurance companies use to decide on what to charge an individual for insurance?
9. Is it possible for an individual to keep their insurance costs down? How?
10. What do policy limits mean?
11. What is a deductible?
Define these terms:
Moving violation
Insurer
Insured
Policy
Premium
At Fault
Agent
1. What are the two basic types of liability insurance?
Define them.
2. What is the difference between uninsured and underinsured motorists?
3. What do “medical payments” pay with regards to car insurance?
4. What does the term collision mean?
5. What does the term “claims adjuster” mean? What do they do?
6. How much would you receive if your car was considered “totaled”?
7. What does comprehensive insurance cover?
8. What criteria do insurance companies use to decide on what to charge an individual for insurance?
9. Is it possible for an individual to keep their insurance costs down? How?
10. What do policy limits mean?
11. What is a deductible?
Define these terms:
Moving violation
Insurer
Insured
Policy
Premium
At Fault
Agent
