Unit 4 Vocabulary Flashcard Practice 4.1-4.3 (Automobile Ownership)

Front

Up Front Costs

Back

These are the initial expenses incurred when purchasing a vehicle, including down payment, taxes, title, and license fees.

Front

Rebate

Back

A discount provided by the manufacturer to qualifying buyers, reducing the overall purchase price of the vehicle.

Front

Manufacturers Warranty

Back

A promise from a manufacturer to repair its product without cost to the purchaser within a specified period.

Front

Trade-In Value

Back

The amount that a car dealer pays you toward the purchase price of a new or used car in exchange for your old car.

Front

Excess Mileage Charge

Back

A fee incurred when a leased vehicle exceeds the mileage limit in its lease agreement.

Front

Destination Fee

Back

A charge added to the price of a vehicle to cover the cost of transporting it from the manufacturer to the dealership.

Front

Financing

Back

The process of obtaining funds to purchase a vehicle, often through loans or credit.

Front

Bumper-to-Bumper Warranty

Back

A comprehensive warranty that covers most parts of the vehicle for a specified period or mileage.

Front

Documentation Fee

Back

A fee charged by the dealer to cover the costs of processing paperwork related to the sale of a vehicle.

Front

Principal

Back

The original sum of money borrowed in a loan, excluding interest.