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Definitions (70)
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vehicle price
The vehicle price is the total amount consisting of the basic price of the vehicle and the optional extras.
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used-car guidebooks
Publications that report current wholesale and (or) retail prices of vehicles. Wholesale values are generally determined from such factors as auto auction prices, other wholesale transactions, and reg [..]
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trade-in
The net value of your vehicle credited toward the purchase or lease of another vehicle. If you own the vehicle being traded in, you sell it to the dealer or lessor. If you are leasing the vehicle bein [..]
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total of payments
The sum of the periodic payments, the end-of-term disposition fee, any other charges, and all amounts due at lease signing or delivery, minus refundable amounts such as a security deposit and any mont [..]
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total loss / write off
If after an accident the estimated repair costs exceed the replacement value of a vehicle so that repairing it does not appear financially advisable, the replacement cost for an equivalent vehicle is [..]
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total monthly payment
The base monthly payment plus monthly sales or use taxes and any other monthly charges.
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title
Legal document that identifies the owner of the vehicle. The lessor, creditor, or assignee, not you, holds title to the leased vehicle.
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total contractual obligation
The sum of the capitalized cost reduction, the total of base monthly payments, and other charges due under the lease/loan agreement. The total contractual obligation excludes any security deposit as w [..]
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termination
Declaration of intent by a party to a contract that it is intended to end a permanent debt obligation (e.g. loan or leasing agreement). It becomes legally effective once the other party to the contrac [..]
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