Podcast
Questions and Answers
Which step in vehicle financing involves getting a free copy of your credit report?
Which step in vehicle financing involves getting a free copy of your credit report?
- Step 3 (correct)
- Step 4
- Step 1
- Step 2
What is the purpose of getting pre-approved by a lender in vehicle financing?
What is the purpose of getting pre-approved by a lender in vehicle financing?
- To get cash back options
- To choose a vehicle
- To negotiate a lower interest rate (correct)
- To dispute errors on your credit report
What should you be cautious of when reading the fine print in a vehicle financing agreement?
What should you be cautious of when reading the fine print in a vehicle financing agreement?
- Prepayment penalties (correct)
- Understanding the terms
- Getting legal assistance
- Moving the vehicle out of the country
Who can you speak with to learn more about auto loan financing?
Who can you speak with to learn more about auto loan financing?
What is the importance of knowing your numbers in vehicle financing?
What is the importance of knowing your numbers in vehicle financing?
Which of the following is NOT one of the five fundamental steps of vehicle financing?
Which of the following is NOT one of the five fundamental steps of vehicle financing?
What does it mean for the bank to hold the title of a car?
What does it mean for the bank to hold the title of a car?
What additional fees might a lender charge for a car loan?
What additional fees might a lender charge for a car loan?
What factors can help you get a lower APR on a car loan?
What factors can help you get a lower APR on a car loan?
Why is it important to clean up errors on your credit report before applying for a car loan?
Why is it important to clean up errors on your credit report before applying for a car loan?
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