General
Financial Glossary - Auto Loan Terms M to P
Market Value - The value range of an automobile.
Market value can be based on region, condition, age and
mileage of a vehicle.
MSRP - Abbreviation of Manufacturer's
Suggested Retail Price. Automobile manufacturer's suggests
to dealers a price that a vehicle should sell for.
Net Income - The amount of money a person
actually takes home after all taxes and deductions are made
from a check.
Origination Fee - A fee that may be charged
by a lender for preparing loan documents or other expenses
incurred by the lender for processing your application.
Power of Attorney - A legal document that
authorizes on person to act on behalf of another.
Prepayment - To pay ahead. Pay quicker
than is required by the lender.
Prepayment Penalties - When monetary penalties
must be payed for paying off a loan ahead of the maturity
date.
Principal - The balance of a debt not
counting interest.
General
Financial Glossary - Auto Loan Terms M to P
Auto
Finance Terms A - D
Auto Finance Terms E -
H
Auto Finance Terms I -
L
Auto Finance Terms M -
P
Auto Finance Terms Q -
T
Auto Finance Terms U -
Z
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