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

The power the engine makes. 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

The price that car sellers 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

What is the amount of money required the day you buy a car?

Back

downpayment

Front

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

Back

MPG

Front

The vehicle identification number. Every single car ever made has its own.

Back

VIN

Front

Every car and driver must have this to legally drive. Driving without this or getting into an accident without this can be EXTREMELY costly.

Back

insurance