First Car Guide for First Time Car Buyers
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Glossary
Glossary
Glossary of Automobile Buying and Financing | |
Glossary of terms related to automobile buying, leasing, financing, driving, and insuring. | |
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| Term | Definition |
| rebate | Rebates are often offered by car makers to customers as a way to help promote sales. A rebate is like a down payment that comes from the car maker's pocket, not the customers. Dealers can receive rebates as well, that can be passed along to customers, or not. |
| residual | In a car lease, residual is the estimated value of the leased vehicle at the end of the lease. Residual values vary by lease company, vehicle make and model, and length of lease. |
| Glossary V2.0 | |