This blog post breaks down the most essential car buying terms into three categories: pricing, financing, and dealership-specific jargon.
: When you owe more on your loan than the car is actually worth. This often happens with long-term loans or small down payments.
: This is the most important number. It includes the car's price plus all taxes, registration, and dealership fees . car buying terms
: The amount the dealer offers for your current car to put toward your new one. Check values on sites like Kelley Blue Book before you go.
If you aren't paying cash, these terms will determine your long-term costs. This blog post breaks down the most essential
: What the dealer paid the manufacturer for the car. Knowing this helps you understand the dealer's profit margin and how much room you have to negotiate.
: The cost of transporting the vehicle from the factory to the dealer. This is usually non-negotiable and passed directly to the buyer. 2. The Loan: Navigating Financing : This is the most important number
: The total yearly cost of your loan, including interest and fees. A lower APR means you pay less over time.
This blog post breaks down the most essential car buying terms into three categories: pricing, financing, and dealership-specific jargon.
: When you owe more on your loan than the car is actually worth. This often happens with long-term loans or small down payments.
: This is the most important number. It includes the car's price plus all taxes, registration, and dealership fees .
: The amount the dealer offers for your current car to put toward your new one. Check values on sites like Kelley Blue Book before you go.
If you aren't paying cash, these terms will determine your long-term costs.
: What the dealer paid the manufacturer for the car. Knowing this helps you understand the dealer's profit margin and how much room you have to negotiate.
: The cost of transporting the vehicle from the factory to the dealer. This is usually non-negotiable and passed directly to the buyer. 2. The Loan: Navigating Financing
: The total yearly cost of your loan, including interest and fees. A lower APR means you pay less over time.