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 […]
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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 […]
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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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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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Amortization
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 […]
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