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Listings for Auto Loans Key Terms (30)


Vendor’s Single Interest (VSI) insurance

What is Vendor’s Single Interest (VSI) insurance? VSI insurance protects the lender, but not you, in the event that the vehicle is damaged or destroyed. […]

322 total views, 1 today


Variable-rate financing

Variable-rate financing Variable-rate financing is where the interest rate on your loan can change, based on the prime rate or another rate called an “index.” […]

288 total views, 1 today


Truth in Lending disclosure

Truth in Lending disclosure The federal Truth in Lending Act—or “TILA” for short—requires that borrowers receive written disclosures about important terms of credit before they […]

308 total views, 1 today


Total cost

Total cost This is how much you will pay to buy your vehicle, including the principal, interest, and any down payment or trade-in, over the […]

289 total views, 1 today


Risk-based pricing

What is risk-based pricing? Risk-based pricing occurs when lenders offer different consumers different interest rates or other loan terms, based on the estimated risk that […]

296 total views, 1 today



Principal Principal is the money that you originally agreed to pay back. Generally, any payment made on an auto loan will be applied first to […]

338 total views, 1 today


No credit check or “buy here, pay here” auto loan

What is a “no credit check” or “buy here, pay here” auto loan? A “no credit check” or “buy here, pay here”auto loan is offered […]

309 total views, 1 today


Negative equity

Negative equity If you owe more on your current auto loan than the vehicle is worth—referred to as being “upside down”—then you have negative equity. […]

295 total views, 1 today


Manufacturer Suggested Retail Price (MSRP)

What is a Manufacturer Suggested Retail Price (MSRP)? The Manufacturer Suggested Retail Price (MSRP) is the price that the automaker – the manufacturer – suggests that the […]

297 total views, 1 today


Manufacturer incentives

What are manufacturer incentives? Manufacturer incentives are special deals, like 0% financing or cash rebates that you may have seen advertised for new vehicles. Often, […]

326 total views, 1 today

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