Consumer Man: Buying a Car | Baamboozle - Baamboozle

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Buying a CAr

Study Slideshow

Cost of a vehicle with standard equipment

base price

invoice price

15

Estimated trade-in worth of a used vehicle as published in a guide by businesses such as Kelly Blue Book

base price

book value

invoice price

15

Service contract that provides for no cost or low cost vehicle repair

extended repair

factory warranty

15

These state laws protect buyers when vehicles have serious defects

FTC Uses Car Rule

lemon laws

15

Document that shows legal ownership of a vehicle

recall

title

15

When buying a vehicle, one of the most important parts of getting a "good deal" is making the monthly payments are affordable

True

False

15

When buying a vehicle, begin your negotiations with the invoice price.

False

True

15

Once you have negotiated the price of the vehicle you want, go to the bank to discuss financing options.

False

True

15

When a trade-in is part of a vehicle purchase, the dealer will offer you the best price.

False

True

15

The consumer has the most important negotiating "tool."

False

True

15

Purchasing a used can can save you an average of 50%.

True

False

15

You should investigate the cost of insurance before making a final decision on purchasing a vehicle.

False

True

15

Before buying a used vehicle, it is a good idea to have it inspected by an independent source.

True

False

15

The average depreciation of a new car is 20% loss of value in the first year.

True

False

15

Invoice price and base price are identical.

False

True

15

Lemon Law is designed to protect consumers from unsafe and defective new cars.

True

False

15