Question

multiple choice 1 point
an excellent credit score will help with which aspect of car financing?
qualifying for a low interest rate
bargaining for a great sales price
receiving a large down payment
having a wide selection of term lengths
8
multiple choice 1 point
all of the following would show up on a credit report except.
credit card payment history
payment history of your car loan
salary of your current job
student loan activity
9
multiple choice 1 point
select the statement below that accurately describes a characteristic of a credit card.
you must have money deposited into a checking account to use the credit card for purchases
they do not charge interest
you owe the same payment every month
making full payments on - time every month is the only way to avoid interest charges

Explanation:

• First question: A good credit score indicates a borrower's reliability. Lenders offer lower interest rates to reliable borrowers (those with excellent credit scores) as they are less risky. Sales price is negotiated with the dealer, down - payment is the buyer's upfront money (not directly related to credit score in the sense of receiving it from someone else), and term lengths are more about the lender's policies and the loan amount rather than solely credit score.
• Second question: A credit report shows credit - related activities. Credit card payment history, car loan payment history, and student loan activity are all credit - related. Salary is an income detail and not part of a credit report.
• Third question:
• You don't need money in a checking account to use a credit card (it's a line of credit).
• Credit cards do charge interest if not paid in full.
• Credit card payments can vary (minimum payment, full payment etc.).
• Making full payments on - time every month avoids interest charges as per credit card terms.

Answer:

1. Qualifying for a low interest rate
2. Salary of your current job
3. Making full payments on - time every month is the only way to avoid interest charges