The current auto financing system employs hundreds of thousands of people, generating tremendous state and federal tax revenue.
Take this simple quiz to check your auto smarts!
Question 1: The finance rate (annual percentage rate) offered by the dealership is usually negotiable. True False
Question 2: As long as I can afford the monthly payment, I am making the right purchase for my budget. True False
Question 3: My credit record impacts the financing terms that I am eligible for. True False
Question 4: The following financing components impact the amount of the monthly payment: Annual percentage rate Down payment Price of auto Length of financing All of the above