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Personal Finance Transportation and Food

Review

AB
Automobile LoanBorrowed money to purchase an automobile
Negotiated PricePrice being paid for the automobile agreed upon by the seller and buyer
Down PaymentAmount of money paid on the automobile at the time of purchase
Trade-inAmount of money received for trading in an automobile
Principle Loan AmountAmount 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 PeriodAmount of time in which the loan will be repaid
Total Cost of the LoanTotal of the principal loan amount, interest paid, and other fees
Total Purchasing Cost of the AutomobileTotal of the down payment, trade-in, and total loan amount
LenderA financial institution who offers loans to consumers
CosignerA person who guarantees a loan for the original borrower
Credit RatingAn evaluaton of a person's credit history
Secured LoanA loan with a cosigner or collateral
PolicyContract between the indicudual and insurer specifying terms of the insurnce
PremiumFee paid to the insurer to be covered under teh specified terms
DeductibleAmount paid by the policy holder for the initial portion of a loss before the insurance coverage begins
Liability InsuranceCovers injuries or damage caused to the other people or their property
Bodily InjuryDriver or car owner is held legally responsible for injuries suffered by another person
Property DamageDriver or car owner is held legally responsible for damaging another's property
20/40/15Iowa's minimum liability limits
Medical Payment InsuranceCovers injuries sustained by the driver of the insured vehicle or any passenger regardless of fault
Physical Damage InsuranceProvides protection for damages caused to the vehicle
Comprehensive CoverageIncludes all physical damage losses expect collision and other specified losses
Collision CoverageCovers a collision with another object, car or from a rollover
Towing CoveragePays the cost of having a vehicle towed to receive repairs
Rental ReimbursementProvides a rental car when the insured's vehicle is being repaired after an accident or if the vehicle is stolen
Base PriceVehicle 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 PriceDealer's initial asking price
Blue Book PriceDollar value given to the vehicle based on its year and model
Made from ScratchPrepare an item from teh beginning or from a recipe
Semi ConvenientPartially prepared, may have to add a few ingredients to complete the product
ConvenientAll of the ingredients are included and already mixed together
Ready to EatPreviously prepared products which require the consumer to perform no preparation
GenericLess expensive products with black and white packaging which are not advertised
Store BrandsProducts which are produced and amrketed by the store's manufaturing company
Name BrandsProducts which are mass produced, marketed, and distributed nationwide by a large company

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