Car Sales

A vibrant, informative image depicting various car finance concepts like APR, PCP agreements, and finance options, with visuals of cars and financial documents, in a modern, engaging style.

Car Sales Quiz: Test Your Knowledge

Welcome to the Car Sales Quiz! This interactive quiz is designed to test your knowledge of car finance, including various financing options, terms, and rates. Whether you're a seasoned professional or just starting to learn about car sales, this quiz will help you understand essential concepts.

Key Topics Covered:

PRIME and SUBPRIME finance
Understanding APR
Different finance options
End-of-agreement choices

11 Questions3 MinutesCreated by DrivingDollars387

What is PRIME finance

Good credit score + High APR

Good Credit score + low APR

Bad credit score + low APR

Bad credit score + high APR

What is SUBPRIME finance

Good credit score + High APR

Good Credit score + low APR

Bad credit score + low APR

Bad credit score + high APR

What options does a customer have at the end of a PCP agreement

Hand the car back + Trade the car in + Pay the final balance

Hand the car back + trade the car in

Hand the car back

They own the car at the end

Which from of finance allows the customer to own the car once the final payment is made

PCP

Hire Purchase

Contract Hire

Lease Purchase

Having a HIGH APR means

A higher Monthly payment + pay less in interest charges

A lower monthly payment + pay more in interest charges

A higher monthly payment + pay more interest charges

A lower monthly payment + pay less in interest