Contributors in Auto loans

Auto loans

Acceptance Fee

Financial services; Auto loans

A one-off payment to cover the administration of setting up the finance agreement & credit searches. Paid at the commencement of the finance agreement with the first payment or rental.

Accessories

Financial services; Auto loans

An extra which can be added to the vehicle, which is not part of the manufacturer's specification.

Administration fee

Financial services; Auto loans

A fee charged to cover the cost of amending an agreement.

Mercedes Advance .Agreement / document

Financial services; Auto loans

A legally binding contract made between a customer and a financial company for the purchase or use of a vehicle. The agreement is binding once it is signed on behalf of the finance company.

APR

Financial services; Auto loans

Also known as Annual Percentage Rate, it is the interest rate which a customer will pay on a finance agreement, including all fees.

Annual Statement of Accounts

Financial services; Auto loans

A statement outlining the payments made to date including any paid late etc.

Arrears

Financial services; Auto loans

A payment or rental which is outstanding.

Featured blossaries

2014 World Cup Winners

Category: Sports   1 5 Terms

Antihypertensive drugs

Category: Health   1 20 Terms