Shared Flashcard Set

Details

6.02
vocabulary
33
Finance
10th Grade
11/20/2013

Additional Finance Flashcards

 


 

Cards

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