Planning Beginner: Shopping for a New Car

Test your knowledge

Choose wisely. There is only one correct answer to each question.

0%
Keep studying!
Review your answers below to learn more.
1.
The cost of ownership of a vehicle is the same as the price you paid for it.
Choose wisely. There is only one correct answer.
False. The cost of ownership is the various expenses you will pay for the vehicle over the time that you own it.
2.
When it comes to shopping for a new car, the best advice is to complete your comparison shopping before visiting a dealership.
Choose wisely. There is only one correct answer.
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.
3.
Negotiating on a new vehicle means looking at the asking price and making a lower offer.
Choose wisely. There is only one correct answer.
False. Although it can mean that, it can also mean looking at the dealer's cost and negotiating upward.
4.
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?
Choose wisely. There is only one correct answer.
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.
5.
A vehicle's cost of ownership is _______.
Choose wisely. There is only one correct answer.
All the costs of buying and owning over time. Take all factors into account when considering the cost of ownership.