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The automotive industry uses a whole new language, including the finance department. When you go to buy your new car, you may encounter a range of words that are new to you. That's why we've put together a list of terms, illustrating what you need to know before you finance your vehicle.

  • Base Price - the cost of a vehicle without any additional options.
  • Blue Book Value - the industry-guided value of a vehicle, specifically determined by Kelley Blue Book.
  • Destination Charge - this fee is charged for moving the car from the manufacturer plant to the dealership.
  • Extended Warranty - this is a contract that extends or adds on to the initial warranty. Typically, these are used as buyer incentives, and often include things like maintenance or roadside assistance.
  • Sticker Price - this is the price of the vehicle including any fees, and it also shows options, charges, and the vehicle fuel economy.
  • Rebate - this is a reduction in price by the manufacturer, used as a buyer incentive. These are especially helpful for first-time buyers or people with low credit.
  • Title - a legal document used to show proof of ownership, and well as specific information about the vehicle.
  • Trade-in Value - the amount a dealer will credit you for your current vehicle. Typically, this is used as incentive for buyers. Click to value your trade.

These are just some of the many car terms that you may come across when shopping for or buying a new car. For any questions, stop by Steve Lewis Subaru today.