by alex
Purchasing a car is a significant decision that involves various considerations, from budgeting and financing to selecting the right model and understanding its features. This quiz is designed to challenge your knowledge and provide insights into the car buying process. Let’s see how well you know the ins and outs of buying a car!
We recommend that you do not leave the page that you are taking this quiz in. Stay honest 🙂
Car Buying Quiz Questions Overview
1. What is the primary benefit of getting pre-approved for a car loan?
It guarantees a lower interest rate.
It allows you to negotiate better with dealers.
It extends the loan term.
It eliminates the need for a down payment.
2. Which of the following is a common feature of certified pre-owned (CPO) vehicles?
They come with a manufacturer’s warranty.
They are always cheaper than new cars.
They have higher mileage limits.
They are sold directly by the manufacturer.
3. What does the term ‘MSRP’ stand for in car buying?
Manufacturer’s Suggested Retail Price
Maximum Sales Retail Price
Market Standard Retail Price
Minimum Suggested Retail Price
4. Which of the following is NOT typically included in a car’s total cost of ownership?
Insurance
Fuel
Maintenance
Parking tickets
5. What is a common advantage of leasing a car instead of buying?
Lower monthly payments
Unlimited mileage
Ownership at the end of the term
No need for insurance
6. What is the purpose of a vehicle identification number (VIN)?
To track the car’s service history
To identify the car’s make and model
To provide a unique identifier for each vehicle
To determine the car’s color
7. Which of the following is a common factor that affects a car’s depreciation rate?
Color of the car
Brand and model
Number of previous owners
Type of fuel used
8. What does the term ‘APR’ stand for in car financing?
Annual Percentage Rate
Annual Payment Rate
Aggregate Payment Rate
Automobile Payment Rate
9. What is the primary purpose of a car’s test drive?
To check the car’s fuel efficiency
To experience the car’s performance and comfort
To finalize the purchase agreement
To determine the car’s color options
10. Which of the following documents is typically required when purchasing a car from a dealership?
Proof of insurance
Birth certificate
Social security card
Credit score report
We recommend that you do not leave the page that you are taking this quiz in. Stay honest 🙂
