{"id":352647,"date":"2016-04-04T10:42:05","date_gmt":"2016-04-04T15:42:05","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/consumer\/lemon-law\/glossary-financing-terms.html"},"modified":"2024-01-18T13:29:00","modified_gmt":"2024-01-18T18:29:00","slug":"glossary-financing-terms","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/consumer\/lemon-law\/glossary-financing-terms.html","title":{"rendered":"Glossary: Financing Terms"},"content":{"rendered":"\n
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Glossary: Financing Terms<\/h1>\n
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\n By Natalie Moritz<\/a> | Legally reviewed by Melissa Bender, Esq.<\/a>\n | Last updated\n
\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

Most consumers will need to finance a new vehicle<\/a> rather than paying upfront and in full. While buying a new vehicle in cash has benefits (like no interest payments), it is not realistic<\/a> for all car buyers. If taking out an auto loan or financing a new vehicle, you should understand the financing terms before signing on the dotted line.<\/p>\r\n

Use the definitions below to strengthen your understanding of the terms used in the vehicle financing and new loan process. This will help:<\/p>\r\n