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Guide to the Common Dealership Terms When Buying A Car

Car Examer

NOVEMBER 2, 2024

Understanding these terms can help you feel more confident, negotiate better, and ultimately drive away with a great deal. APR (Annual Percentage Rate) APR is the interest rate on any car financing, shown as an annual percentage. APR includes both the interest rate and any fees, giving you the true cost of borrowing.

Balloon Payment 59
Balloon Payment Term Dealerships Mileage Limit 59
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Understanding Dealership Jargon: Terms the Public May Not Know

Shawn Ryder

FEBRUARY 7, 2024

When you’re dealing with car dealerships, whether buying a new car or getting service on your existing vehicle, you might encounter several terms that aren’t immediately clear. F&I (Finance and Insurance) A department within a dealership responsible for arranging financing and insurance for customers purchasing vehicles.

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Term Gap Insurance Dealerships Extended Warranty 40
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