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Definitions (43)
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vehicle lease
See Finance Lease
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vehicle finance
A general term referring to borrowing money to purchase cars or other vehicles. Generally "car finance
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true interest rate
Normally synonomous with Comparison Rate
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security
Property - the vehicle in the case of car finance - that a financier can claim in case a borrower defaults on their loan obligation.
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tap
Acronym for T
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term
The length of a loan, normally expressed in months or years.
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to approved purchasers
A disclaimer indicating that an offer (often an advertised offer) is subject to approval (normally finance approval).
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retained interest
Unpaid future interest included in an early payout figure. Also colloquially known as a Payout Penalty
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