Choose wisely. There is only one correct answer to each question.
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1.
When it comes to shopping for a new car, the best advice is to complete your comparison shopping before visiting a dealership.
True. The Internet offers many sites with helpful information that consumers can use to narrow down to the car they want and how much it might cost. Consumer Reports also publishes an annual car-buying issue.
2.
Which of the following prices on a new vehicle reflects what the dealer bought it for from the manufacturer?
Invoice price. This is what the manufacturer charges the dealer. The dealer, in turn, will charge you something either more or less than this.
3.
If you show interest in a new vehicle on the dealer's lot but you decide to walk away during negotiations, what can you expect the dealer to do in response?
Call you later and make you another offer. As a rule, if you show interest, the dealer will want your business and may contact you with a new offer.
4.
A vehicle's cost of ownership is _______.
All the costs of buying and owning over time. Take all factors into account when considering the cost of ownership.
5.
The cost of ownership of a vehicle is the same as the price you paid for it.
False. The cost of ownership is the various expenses you will pay for the vehicle over the time that you own it.