76 Belinda Parkway
Mount Juliet, TN 37122
Toll Free: 800-900-1000
Text Us Now -Sales: 615-979-4959
Text Us Now - Service: 615-854-5164

TwoRivers-FinanceTermsToKnow-1090x350.jpg

Here are some common finance terms you should know to make your car buying process a little bit easier.

Black Book. Data collected from wholesale car auctions used to determine the value of a car.

Blue Book. Similar to Black Book, this is the value of a car as determined by Kelley Blue Book.

Cosigner. An additional party who assumes equal responsibility for a loan. This is often a parent or spouse.

Credit. A term used to indicate your ability to repay a debt, based on your credit history.

Depreciation. A car’s gradual decline in value over time due to wear and tear.

Destination Charge. A fee charged to the dealership by the vehicle manufacturer to ship a vehicle to the dealership’s location. It is included as part of the vehicle’s MSRP.

Lien. Legal ownership of a vehicle by a finance company until the auto loan has been paid in full.

MSRP. Manufacturer’s Suggested Retail Price. This is the price the manufacturer recommends a dealership set for a new car.

Pink Slip. This refers to a vehicle’s title or certification.

.
top