"Test Your Car Buying and Financing IQ"

There are some basic questions that anybody looking for a vehicle and/or financing should know the answers to, and I don't mean "THINK" you know the answer, I mean "KNOW" the answer. Take this short test and find out if you really know the answers.

1. Am I really getting the best interest rate and loan terms that I qualify for?

2. What's the difference between a purchase and a lease?

3. How much should the used car I want to buy really cost? What's the true market value?

4. What is my present car really worth, and should I trade it in or sell it myself?

5. How can I be sure that my car salesman isn't just telling me what I want to hear?

6. The dealer suggested that I buy an extended warranty; should I, and if so what should it cost?

7. Where is the best value: in a new car or a used one?

8. I went to my bank to get an auto loan and was denied. Will a dealer be able to help me?

9. I went to a dealer that advertises "In House Financing"; will this help me rebuild my credit?

10. I hate the back and forth haggling when I buy a car. Is it possible to buy a car without all the haggling?

11. I need to buy a car; am I better off buying from a private party seller?

12. I'm considering a new car purchase and the dealer has offered to sell me the car at invoice. Is this a good enough deal?

13. How much down payment will I really need to finance a car?

14. Why is the dealer telling me that I'm approved for a $450 car payment, when I know I can only afford $250?

15. I just bought a used 2 year old car and it breaks down constantly; isn't there a lemon law that I can use?

16. I leased my car for 48 months; now, 2 years later, I would like a new vehicle. Am I stuck in this lease?

17. I have a low credit score and a credit repair specialist has recommended that I apply for an Employee Identification Number from the IRS and start using it in place of my social security number. Should I do this?

18. I bought a car a couple of weeks ago and now the dealer is telling me that the financing didn't go through. Do I have any rights here or do I have to return the vehicle?

19. I can't afford my car payment, but a friend of mine can. Can I simply turn over the car to my friend and let them make the payments.

20. I recently filed bankruptcy and will have a discharge letter shortly. I need to buy a car; will I have any hope of financing or will I be forced to drive a car that my small down payment will pay for?

How did you do? I'll bet that you'd be surprised at the real answers to the questions you're sure you got right.

If you can't answer, without any doubt, all of the questions that apply to your situation, then you're making a big mistake if you buy a car without first reading "The Insider's Secrets".

My name is Gary McClure; I am the author and a 30 year expert in every aspect of the automobile and financing businesses. You will find the answers to all of these questions and any others you might have in my book "The Insider's Secrets" or at my website. http://www.theinsiderssecrets.net/