Car Sales 2
Car Sales Knowledge Quiz
Test your understanding of car finance and sales with our engaging quiz! This 10-question challenge covers essential topics like APR, road tax, and vehicle transfers.
Perfect for anyone in the car sales industry or those interested in enhancing their knowledge:
- Understand the intricacies of car financing.
- Learn about different payment plans.
- Check your knowledge against industry standards.
What does APR directly relate to/ also known as
Interest Rates
PCP
Prime Customers
Balloon Payment
What is the term used for the extra money the finance company charges on top of the original price of the car/the extra money the customer the customer is charged
Option to purchase fee
Interest Charges
Balloon Payment
Guaranteed Maximum Future Value
What options do customers have when paying their road tax
3 months - 6 months - 12 months
6 months - 9 months - monthly
6 months - 12 months - monthly
6 months - 9 months - 12 months
What is the name of the red booklet used to transfer the car into the new customers name
V12
V6
V5
V10
Which APR will result in the customer being charged MORE in interest
11.2%
12.6%
On a Hire Purchase agreement, what is the final payment called? (Normally £10)
Option to purchase fee
Balloon Payment
Guaranteed Minimum Future Value
Final Payment
On a PCP agreement, what this the final payment called - 2 Correct Answers
Option to purchase fee
Balloon Payment
Guaranteed minimum future value
Guaranteed maximum future value
Which website do we use to check a cars history for outstanding finance, damaged, stolen, mileage discrepancy etc
Valuation Anywhere
HPI
Mann Island
Autotrader
Which APR would a PRIME customer get with us
11.9%
12.2%
10.4%
15.0%
Which customer will pay the LOWEST amount in interest charges
Customer A - 11.7% APR
Customer B - 10.1% APR
Customer C - 16.2% APR
Customer D - 9.9% APR
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