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Listings for Auto Loans Key Terms (30)


Deficiency balance

Deficiency balance If your vehicle is repossessed and sold, you may be responsible for paying the difference between the amount left on your loan (plus […]

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Debt cancellation or suspension products

What are debt cancellation or debt suspension products offered with an auto loan? Some auto dealers as well as banks and credit unions offer “debt […]

254 total views, 0 today


Credit insurance

Credit insurance Credit insurance is optional insurance that may make your auto payments to your lender in certain situations, such as if you die or […]

273 total views, 0 today



Co-signer A co-signer is a person—such as a parent, close family member, or friend—who pledges to pay back the loan if you do not. This […]

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Buy rate

What is a buy rate for an auto loan? A buy rate is the interest rate that a potential lender quotes to your dealer when […]

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Base price

What does the base price of a vehicle mean? The base price is the price of the vehicle without options. The manufacturer’s base price excludes […]

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Assignee An assignee is a person or a company who buys your auto loan. For example, an auto dealer who extends credit to you may […]

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Annual Percentage Rate (APR)

Annual Percentage Rate (APR) The Annual Percentage Rate (APR) is the cost you pay each year to borrow money, including fees, expressed as a percentage. […]

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What is amortization and how could it affect my auto loan? Amortization describes the process of gradually paying off  your auto loan. In an amortizing […]

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Actual Cash Value (ACV)

What is an Actual Cash Value (ACV)? An Actual Cash Value (ACV) is the value of the car according to widely recognized independent sources such […]

284 total views, 0 today

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