How much do you know about car shopping?

By: Maria Trimarchi
Image: Shutterstock

About This Quiz

The average cost of buying a car in 2016 was $33,845 -- that's a big purchase. And to get that car, you need to deal with a salesperson who's been trained to give you the worst deal, if possible. See how much you know about budgeting, haggling, negotiating and the art of making a deal.

What should you pay attention to when you test drive a car?

Also known as the finance rate, APR is the interest rate on a loan. What does "APR" stand for?

You decide you want to buy your car at the end of its lease. What's the remaining price called?

What does MSRP stand for?

Which of these credit scores is best?

When leasing a new car, who is the "lessee"?

When all other tactics fail, which strategy can be effective?

If your salesperson considered you a "chiseler," what are you good at?

Why does a salesperson usually ask you where you work or what you do for a living?

All of these characteristics make you a good candidate to lease a car, except which one?

How many car-shopping customers actually qualify for those 0 percent financing deals?

Is "no haggle" a bad deal?

What's a new vehicle's Fair Purchase Price?

Which is not one of the three things included in dealer cost?

If you plan to finance your new car purchase, your monthly payments should be no more than what percent of your monthly take-home pay?

What is the invoice cost of a new car?

When is not a good time to buy a new car?

A new car will lose how much of its value in the first five years?

How big of a down payment should you plan to put down?

When's the best time to discuss your trade-in?

What's the "down stroke" in a car-buying deal?

Which is a fair offer?

When leasing a new car, who is the "lessor"?

You know what you want, but just can't seem to settle on a deal, and all this time at the dealership is wearing you down. To avoid this, your goal should be to close negotiations in how much time?

What is it called when you owe more on your car than it's worth?

Is it a good deal if the salesperson changes the terms of the loan to lower the potential monthly payments?

Which of these fees is one you really don't have to pay?

Which is known as the "Ben Franklin close" among car salespeople?

What's the slang among car salesmen for a co-signer?

You've budgeted for monthly car payments, but how much should you set aside for things like gas and repairs?

Dealers are paid a specific amount of money every time they sell a new car. "Dealer holdback," as it's called, is typically what percent of the invoice price, minus the destination and delivery fees?

What's the best way to approach price negotiation?

Dealer Installed Options (DIO) are items added to a car at the dealership. Factory Installed Options (FIO) are installed at the factory. What does PIO stand for?

Car loans can have term lengths that'll keep you paying your monthly payments for years. When choosing, which term length should be your cap?

Who pays vehicle registration fees when you buy your car at a dealership?

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