Auto Loan Basics: Chapter 2 quiz

If you think you’ve mastered the material in this chapter, take our quiz. After you click the ”submit” button, the answers will appear below.

  1. Car buyers shopping online can get a firm quote on the car they want by going to the:

    Manufacturer’s Web site
    Third-party Web site
    Dealer’s Web site
  2. Don’t hire a broker if:

    The broker works for or is compensated by a dealer, dealer’s association or manufacturer.
    The broker charges a percentage of the final price.
    The broker is not licensed to sell cars in your state.
    The broker has bad or no testimonials.
    All of the above.
  3. Which of the following is not a true statement?

    Brick-and-mortar banks and credit unions usually offer the best interest rates on auto loans.
    You should always get a report on a used car’s VIN before buying.
    Buying a car, rather than leasing, makes for lower monthly payments.
    You can get quotes on auto insurance before you buy a car just by going to a third-party Web site.