Term
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Definition
| is the loss in value an asset experiences over time. in the case of cars, it is a function of not only mechanical wear, but the fact that each year cars are different in design (some more so than others) rendering last year's model out of fashion and so worth less because it is no longer "new". |
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Term
| actual dealer invoice price |
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Definition
| the real cost is (or close to it) of a new car |
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Term
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Definition
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Term
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Definition
| what the car will be worth at the end of the lease (the depreciated value) |
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