| A | B |
|---|
| Automobile Loan | Borrowed money to purchase an automobile |
| Negotiated Price | Price being paid for the automobile agreed upon by the seller and buyer |
| Down Payment | Amount of money paid on the automobile at the time of purchase |
| Trade-in | Amount of money received for trading in an automobile |
| Principle Loan Amount | Amount of the loan for the automobile after subracting the down payment and/or trade-in |
| Annual Percentage Rate (APR) | Meausure of the cost of credit on a yearly basis expressed as a percentage |
| Time Period | Amount of time in which the loan will be repaid |
| Total Cost of the Loan | Total of the principal loan amount, interest paid, and other fees |
| Total Purchasing Cost of the Automobile | Total of the down payment, trade-in, and total loan amount |
| Lender | A financial institution who offers loans to consumers |
| Cosigner | A person who guarantees a loan for the original borrower |
| Credit Rating | An evaluaton of a person's credit history |
| Secured Loan | A loan with a cosigner or collateral |
| Policy | Contract between the indicudual and insurer specifying terms of the insurnce |
| Premium | Fee paid to the insurer to be covered under teh specified terms |
| Deductible | Amount paid by the policy holder for the initial portion of a loss before the insurance coverage begins |
| Liability Insurance | Covers injuries or damage caused to the other people or their property |
| Bodily Injury | Driver or car owner is held legally responsible for injuries suffered by another person |
| Property Damage | Driver or car owner is held legally responsible for damaging another's property |
| 20/40/15 | Iowa's minimum liability limits |
| Medical Payment Insurance | Covers injuries sustained by the driver of the insured vehicle or any passenger regardless of fault |
| Physical Damage Insurance | Provides protection for damages caused to the vehicle |
| Comprehensive Coverage | Includes all physical damage losses expect collision and other specified losses |
| Collision Coverage | Covers a collision with another object, car or from a rollover |
| Towing Coverage | Pays the cost of having a vehicle towed to receive repairs |
| Rental Reimbursement | Provides a rental car when the insured's vehicle is being repaired after an accident or if the vehicle is stolen |
| Base Price | Vehicle price with standard equipment, no extra options |
| Manufacturer's Suggested Retail Price (MSRP) | Includes base price, price of options installed by manufacturer, and their transprotation charge |
| Sticker Price | Dealer's initial asking price |
| Blue Book Price | Dollar value given to the vehicle based on its year and model |
| Made from Scratch | Prepare an item from teh beginning or from a recipe |
| Semi Convenient | Partially prepared, may have to add a few ingredients to complete the product |
| Convenient | All of the ingredients are included and already mixed together |
| Ready to Eat | Previously prepared products which require the consumer to perform no preparation |
| Generic | Less expensive products with black and white packaging which are not advertised |
| Store Brands | Products which are produced and amrketed by the store's manufaturing company |
| Name Brands | Products which are mass produced, marketed, and distributed nationwide by a large company |
