Cars- Personal Finance

vehicle identification number

VIN- number with letters and numbers that identifies each vehicle manufactured or sold in the U.S.

dealer add-ons

may try to increase price with this, high prices, high profit dealer services that add little/no value

invoice price

between sticker price and price dealer paid

hybrid

car that uses gas and battery

lemon

car with defects that manufacture was unable to fix

classic cars

excellent conditions may increase value

car-buying service

allows you to choose the features you want and a professional negotiation

car title

legal document establishes ownership of vehicle

car registration

license plate fee

oxidize

loose shine/color from air

sticker price

manufacture's suggested retail price

pre-approval

process of getting a new or used car loan prearranged through your bank or credit union.

lemon laws

protect consumers from consequences of buying defective car

FCT Rule

requires that dealers fully disclose or buyers what is and is not covered underway warranty for used vehicle.

upholstery

seat-covering material

car detail

service who clean, polish the outside, along with cleaning interior

polishing compound

substance that can smooth surface, scratches, scuffs, and stains

vehicle emission test

verifies that a vehicle meets minimum clean-air standards