6.02personal finance Word Scramble
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Term | Definition |
Public transit | Public modes of transportation available in cities---bus,subway,trolley |
Carpooling | Grouping with others to share rides to and from work |
Depreciate | To decrease in value |
Disclosure sheet | Describes any repairs or replacements done on a used care |
Make | The brand of a vehicle |
Model | A line of vehicles made by a specific company, such as Ford Taurus |
Domestic | American-made |
Imported | Foreign-made |
Auto Superstore | Dealerships with huge inventories of new and used vehicles |
fuel economy | Type of fuel used and miles per gallon |
Power | A vehicle's ability to accelerate for speed |
Perfomance | A vehicle's ability to handle,brake, and acceleration the road |
Invoice price | The price the dealer pays the manufacturer |
Base price | The price of a vehicle with standard equipment |
Options | Features available at extra cost or special prices |
Manufacturer's suggested retail price | Base price+price options installed by manufacturer+manufacturer's transportation charge |
Sticker price | Dealer's initial asking price as found on the sticker in the vehicle window |
Up front costs | Costs wen singing a lease---Deposit, taxes,and registration fees |
Leasing | Monthly payments in exchange for exclusive use of vehicle for a time |
Capitalized cost | Price for a leased care |
Capitalized cost reduction | Payment similar to down payment that results in lower monthly payment |
Lease term | Length of the lease---usually, 24,36, or 48 months |
Option to purchase | At end of lease, the alternative to purchase the leased vehicle |
Residual value | The worth of a leased vehicle at the end of the lease |
Installment loan | A loan to be repaid in equal payments |
Liability insurance | Covers when liable or responsible for an accident were others are injured or killed |
collision insurance | Pays for loss or damages to insured person's care due to accident |
Comprehensive physical damage insurance | pays for loss or damage not resulting from a collision---E.g.,fire, theft, falling objects |
No-fault auto insurance | Pays claims regardless of who is at fault |
Underinsured motorist insurance | Covers difference between liability coverage and Underinsured motorist and the amount of losses |
Rental reimburstement | Covers cost of renting a care wile yours is being repaired |
Premium | The cost for insurance coverage for the term of the insurance policy |
Deductible | The amount an insured person must pay before the insurance company pays on a claim |
Created by:
coxke3
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