Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
6.02personal finance
Transportation Options
| 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
Popular Finance sets