Buying a Car

What is the interest rate on a loan called?

• APR-Accrued Percent Range

• APR-Annual Percentage Rate

• APR-Annual Primary Rate

• APR-Annuity Preliminary Record

The reduction of value in the car over time usually based on the wear and tear caused by driving the car

• Principal

• True Market Value

• Warranty

• Depreciation

The money you pay upfront when getting a car loan

• principal

• down payment

• interest

• APR

This is the company that makes the cars we drive (Ford, Toyota, etc.)

• msrp

• model

• amazon

• manufacturer

This is the assurance that your car will be protected from any major issues with the car in case something happens before the number of years you own the car or the number of miles you drive it.

• msrp

• warranty

• depreciation

• true market value

This is the price of the car that includes the fees and other charges that are added to the price of a car but is often not included in the advertised price.

• msrp

• sticker price

• true market value

• principal

when borrowing money from a bank, this is the amount of your monthly car payment that goes towards paying off your loan after interest has been deducted

• APR

• principal

• msrp

• down payment

this is the amount that a car manufacturer advises dealers to charge for a vehicle. It's just the starting point in negotiations at a car dealership.

• MSRP

• Loan

• Principal

• Down Payment

this is the measure of how far a car can travel using exactly one gallon of gas. This figure helps you to compare cars based on their efficiency