Buying a Car Terms

Front

sum of costs in order to purchase, operate, and maintain a vehicle

Back

total cost of ownership (TCO)

Front

a car that is unsatisfactory or has defects. a buyer often does not know about the defects.

Back

lemon

Front

different versions of the same car that include or do not include specific features

Back

trim

Front

the power the engine makes is compared to the power of a horse. the more power, the faster your car can accelerate or the heavier the weight it can carry.

Back

horsepower

Front

if you are willing to give your car to the dealer in exchange for a new car, you can often get a better price

Back

trade-in

Front

manufacturer's suggested retail price. price that car builders say the car should be sold at.

Back

MSRP

Front

a long term rental of a car. you need to pay monthly payments for the vehicle and it must be returned at the end of the contract.

Back

lease

Front

most people cannot afford to pay for a new car in one day. you pay the cost over time, but sellers require a certain amount of money the day you buy it.

Back

downpayment

Front

the person/company that is selling the car. this could be a person or a dealership.

Back

seller

Front

miles per gallon - the amount of miles (distance) a car can drive on one gallon of gasoline or fuel

Back

MPG