Personal Finance - Chapter 14 Test Questions and Answers.

(T or F) Kelley Blue Book can be used as a popular pricing guide for new and used cars - Answer True (T or F) Generally, cloth vehicle upholstery is more durable than vinyl - Answer True (T or F) Most car buyers pay cash for their cars to avoid interest charges - Answer False (T or F) Before you start shopping for a car, determine how much you can afford to spend - Answer True (T or F) You should negotiate the price for a new car separately from the price of your trade-in - Answer True A vehicle with substantial defects that the manufacturer has been unable to fix after repeated attempts is called a(n) ___________________ - Answer Lemon For a new car, the manufacturer's suggested retail price, or ____________ price, is the price shown on the tag in the car's window - Answer Sticker Typically, you should expect to change the oil in your vehicle every three months or every ___________ miles, whichever comes first - Answer 3,000 to 5,000 All of the following websites allow you to search for specific models of new and used cars available in your area except - Answer Consumer Reports A fair price for a new car is likely to be about _________ percent above the _______ price - Answer 3 to 6, invoice In most cases, the most important factor in determining a car's resale or trade-in value is - Answer The vehicle's age With a vehicle's VIN, you can determine all of the following expect - Answer How quickly the vehicle can go from 0 to 60 MPH