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1.
What is a vehicle's cost of ownership made of?
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The various expenses you will pay for the vehicle over the time that you own it. Cost of ownership takes into account any costs you will pay while owning it.
2.
Negotiating on a new vehicle means looking at the asking price and making a lower offer.
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False. Although it can mean that, it can also mean looking at the dealer's cost and negotiating upward.
3.
A vehicle's cost of ownership is _______.
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All the costs of buying and owning over time. Take all factors into account when considering the cost of ownership.
4.
When negotiating the price of a new car, which starting point is likely to save you the most money?
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The dealer's cost. The dealer's cost is what the dealer paid the manufacturer for it. Negotiating up from this, rather than down from the asking price, may save you more money.
5.
Which of the following prices on a new vehicle reflects what the dealer bought it for from the manufacturer?
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Invoice price. This is what the manufacturer charges the dealer. The dealer, in turn, will charge you something either more or less than this.