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33 terms

Transportation

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Public Transit
Public modes of transportation available in cities---bus, subway, trolley
Carpooling
Grouping with others to share rides to and from work
Depreciate
To decrease in value
disclosure sheet
Describes any repairs or replacements done on a used car
make
the brand of a vehicle
model
a line of vehicles made by a specific company, such as Ford Taurus
domestic
American-made
imported
Foreign-made
auto superstore
dealerships with huge inventories of new and used vehicles
fuel economy
type of fuel used and miles per gallon
power
a vehicle's ability to accelerate for speed
performance
a vehicle's ability to handle, brake, and accelerate on the road
invoice price
the price the dealer pays to manufacturer
base price
the price of a vehicle with standard equipment
options
features available at extra cost or special prices
manufacturer's suggested retail price
base price + price options installed by manufacturer + manufacturer's transportation charge
sticker price
dealer's initial asking price as found on the sticker in the vehicle window
up front costs
costs when signing a lease --- deposits, taxes, and registration fees
leasing
monthly payments in eschange for exclusive use of vehicle for a time
capitalized cost
price for a leased care
capitalized cost reduction
payment similar to down payment that results in lower monthly payment
lease term
length of the lease---usually, 24, 36, or 48 months
option to purchase
at the end of lease, the alternative to purchase the leased vehicle
residual value
the worth of a leased vehicle a the end of the lease
installment loan
a loan to be repaid in equal payments
liability insurance
covers when liable or responsible for an accident where other are injured of killed
collision insurance
pays for loss or damages to insured person's care due to accident
comprehensive physical damage insurance
pays for loss or damage not resulting from collision ---e.g., fire, theft, falling objects
no-fault auto insurance
pays claims regardless of who is at fault
underinsured motorist insurance
covers difference between liability coverage and underinsured motorist and the amount of looses
rental reimbursement
covers costs of renting a car while yours is being repaired
premium
the cost of insurance coverage for the term of the insurance policy
deductible
the amount an insured person must pay before the insurance company pays on a claim