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major life purchases

TermDefinition
Acquisition fee fee to cover the expenses incurred in arranging a lease
closed end lease a rental agreement that puts no obligation on the lessee to purchase the leased asset at the end of the agreement
collateral something pledged as security for repayment of a loan, to be forfeited in the event of a default
dealer incentives factory-to-dealer incentives that reduce the dealer's true cost to buy the vehicle from the factory
default failure to fulfill an obligation, especially to repay a loan or appear in a court of law
deficiency
depreciation fee
early termination
finance charge
fixed rate loan
inception fees
installment loan
invoice price
lease
lessee
lessor
mileage allowance
mileage charge
money factor
MSRP
open end lease
purchase option
rebates
residual value
secured loan
upside down
variable rate loan
warranty
Created by: Dwhite23
Popular Finance sets

 

 



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